Is the Chainlink (LINK) price recovering, or is the rise only from the technical look? Analysis Company shared very critical price zones

Crypto para Analysis Company Macrovision is in the latest technical analysis report Chainlink (LINK) shared a critical assessment for. The company shared that LINK recovered from an important support point, but the resistance zones in front of it are still challenging levels that must be exceeded.

According to the analysis, the price of the LINK found a clear reaction by finding support on the green trend line in the $ 10.7 – $ 11 band. The upward movement, which started at this level, provided the price to recover the price. However, analysts question whether this movement is sustainable.

Macrovision drew attention to two important resistance zones in the short term:

• 12.9 – 13 Dollar Band: Strong breaking of this level is seen as the first sign to support the rise scenario.
• 16.6 – 17.3 Dollar December: This region, which has a high response potential, stands out as the next critical resistance point.

According to the analysis company, exceeding these two levels may give a clear bull market signal in the technical view.

In the analysis, the price is still under the trend line of the red drop. The upward breaking of this trend line can be the first signal of a possible trend change. Otherwise, it was interpreted that the current movement was only a short -term technical recovery.

Macrovision’s assessment ends with the following expression: “Although Chainlink seems to be strengthened in the short term, this movement may remain as a technical reaction without overcoming the red down trend. Especially the price of the price to fell below 11 dollars will weaken the current structure.”

*It is not an investment advice.