Chainlink may be the only altcoin out there that has a positive short term ahead of it. The coin is forming a bullish surge once it hits its next support level which analysist predict will hold well and sky-rocket the coin past resistance levels.
The Chainlink price analysis charts show that the coin has been having a hard day, but such slumps are always followed up by massive corrections and LINK is not likely to be an exception.
Chainlink price analysis: Resistance and Support
It’s quite clear to see that the coin has dipped massively over the course of just a couple of hours and is forming support and resistance levels as we speak.
The most important ones that will most likely be tested this week are at $2.23 and $2.20 respectively. Analysts report that either one of these supports will hold and sent the coin past a newly formed resistance.
When it comes to the resistance, it’s currently at $2.43 with another one forming at $2.50 if the support holds. Overall, the slump is an indication for the bulls to prepare and stock up very soon, therefore giving hope for a healthy surge.