Chainlink Trades Sideways Between Key Levels
Key Takeaways
Chainlink (LINK) is currently trading within a narrow price range between two critical levels. The zones around USD 14.60 and USD 16.00 show strong activity from long-term investors. While the lower price level acts as solid support, the upper one serves as resistance. Whether LINK can break out of this zone largely depends on the behaviour of these investors and overall market conditions.
Strong Support at USD 14.60
On-chain data shows that around 65 million LINK are being held at approximately USD 14.60. This area represents a significant support zone. Many of these coins were purchased during periods of lower prices – such as in December, January, and mid-March. This indicates a high level of conviction among holders. This group is less susceptible to short-term price fluctuations, thereby reinforcing the stability of this price level.
Persistent Resistance at USD 16.00
Approximately 20 million LINK are held in wallets with an average entry price of USD 16.00. This zone currently acts as resistance. Historically, this area has seen increased accumulation – particularly after price pullbacks in December, February, and mid-March. Unless market sentiment improves significantly, selling pressure can be expected in this zone.
Technical Outlook: Between Two Moving Averages
Currently, the LINK price is around USD 13.94. This places it below the 50-day moving average (USD 14.56) and well below the 200-day moving average (USD 19.25). A so-called “Death Cross” – where the 50-day average crosses below the 200-day average – formed in early March. This is a technical signal often interpreted as bearish.
However, the price recently recovered from a low of USD 12. Should LINK reclaim the USD 14.60 area with volume, a renewed test of the USD 16.00 level could follow. A sustained breakout, however, depends on overall market dynamics.
Long-Term Investors as Key Players
Current price movements are heavily influenced by investors with a long-term outlook. This group shows a recurring pattern of strategic buying during price dips. Their behaviour suggests they are not focused on short-term gains. As long as these investors hold or continue to build their positions, the risk of major sell-offs remains limited.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Adventure Slots – The Best Adventure-Themed Slots
Reading time: ~ 3 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
Our Assessment
Chainlink is currently at a pivotal stage. The narrow range between USD 14.60 and USD 16.00 is largely shaped by the behaviour of long-term holders. A breakout to the upside would require either an increase in buying volume or an improvement in market sentiment. In the short term, sideways movement is likely as long as there are no clear signals of a trend reversal. For traders, the current situation may present opportunities – provided they closely monitor the key zones.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency