{"id":149243,"date":"2023-09-04T10:30:05","date_gmt":"2023-09-04T05:00:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149243"},"modified":"2023-09-04T10:30:05","modified_gmt":"2023-09-04T05:00:05","slug":"chainlink-needs-to-clear-6-25-for-hopes-of-a-fresh-rally-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/chainlink-needs-to-clear-6-25-for-hopes-of-a-fresh-rally-crypto-news\/","title":{"rendered":"Chainlink Needs To Clear $6.25 For Hopes of a Fresh Rally &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Chainlink\u2019s LINK price is holding the $5.75 support zone. The price could start a fresh increase if it clears the $6.25 resistance zone.<\/em><\/p>\n<ul>\n<li>Chainlink token price is showing positive signs above $6.0 against the US dollar.<\/li>\n<li>The price is trading above the $6.05 level and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).<\/li>\n<li>The price could gain bullish momentum above the $6.25 resistance zone.<\/li>\n<\/ul>\n<h2>Chainlink (LINK) Price Eyes Fresh Recovery<\/h2>\n<p>After a major decline, LINK price found support near the $5.75 zone against the US Dollar. A low was formed near $5.74 and the price is now attempting a recovery wave, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-fade-26200\/\">Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-bears-strong-1700\/\">Ethereum<\/a>.<\/p>\n<p>There was a decent move above the $5.85 and $6.00 levels. LINK is now trading above the $6.05 level and the 100 simple moving average (4 hours). However, there are many hurdles on the upside starting with $6.10. Besides, there is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK\/USD pair.<\/p>\n<p>The current price action suggests that the price is struggling near the trend line and $6.10. The first major resistance is near the $6.25 zone. It is close to the 23.6% Fib retracement level of the downward move from the $7.91 swing high to the $5.74 low.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/LINKUSD\/\">LINKUSD on TradingView.com<\/a><\/p>\n<p>A clear break above $6.25 may possibly start a fresh increase toward the $6.65 and $6.80 levels. The next major resistance is near the $7.10 level, above which the price could revisit $7.50.<\/p>\n<h2>Another Decline Losses?<\/h2>\n<p>If Chainlink\u2019s price fails to climb above the $6.25 resistance level, there could be a downside extension. Initial support on the downside is near the $6.00 level.<\/p>\n<p>The next major support is near the $5.75 level, below which the price might test the $5.60 level. Any more losses could lead the price toward the $5.35 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for LINK\/USD is losing momentum in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $6.00 and $5.75.<\/p>\n<p>Major Resistance Levels \u2013 $6.25 and $6.80.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink\u2019s LINK price is holding the $5.75 support zone. The price could start a fresh increase if it clears the $6.25 resistance zone. Chainlink token price is showing positive signs above $6.0 against the US dollar. The price is trading above the $6.05 level and the 100 simple moving average (4 hours). There is a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":149244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-149243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=149243"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149243\/revisions"}],"predecessor-version":[{"id":149245,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149243\/revisions\/149245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/149244"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=149243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}