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Chainlink (LINK) Signals Strong Recovery After Bouncing Off Key Support

Chainlink (LINK) Signals Strong Recovery After Bouncing Off Key Support

CoinomediaCoinomedia2025/03/16 14:33
By:Aurelien SageAurelien Sage

Chainlink (LINK) bounces off the 200-day EMA and trendline support, hinting at a strong recovery. Can bulls sustain the momentum?A Crucial Support Zone Holds FirmCan Bulls Sustain the Momentum?

  • LINK bounced off the 200-day EMA and ascending trendline.
  • This reaction indicates a potential bullish recovery.
  • Buyers need to sustain momentum for further upside.

Chainlink (LINK) has made a strong move after rebounding from a crucial support zone. The price recently tested the 200-day Exponential Moving Average (EMA) and an ascending trendline on the weekly chart. This bounce indicates the presence of strong buying pressure, which could lead to a potential uptrend in the coming weeks.

Chainlink (LINK) Signals Strong Recovery After Bouncing Off Key Support image 0 Chainlink (LINK) Signals Strong Recovery After Bouncing Off Key Support image 1

A Crucial Support Zone Holds Firm

The 200-day EMA is widely considered a key support level, often signaling a trend reversal when price action respects it. In this case, LINK’s bounce off this level suggests that bulls are stepping in to defend the price. Additionally, the ascending trendline reinforces the support, making it a strong base for a potential rally.

If LINK maintains its momentum above this level, traders may see increased buying interest, pushing the price higher toward key resistance zones. However, a failure to hold above support could invite selling pressure, leading to another test of lower levels.

Can Bulls Sustain the Momentum?

For a confirmed recovery, LINK must break through immediate resistance levels and sustain higher highs. Traders will be closely watching for strong volume and bullish signals to validate this upward move. If the positive trend continues, LINK could target higher resistance levels, making it an attractive asset for investors looking for recovery opportunities.

Disclaimer: The content on CoinoMedia is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments carry risks, and readers should conduct their own research before making any decisions. CoinoMedia is not responsible for any losses or actions taken based on the information provided.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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