In the last weeks chainlink It continued to exhibit signs of relative strength, with the cryptocurrency securing a relatively significant support point above the $ 16.50-17.00 range that the bulls are trying to defend. If that attempt is successful, Chainlink could secure enough momentum to reach a higher level in the coming days.
Speaking of the importance of this level, one analyst also explained that as long as the bulls defend themselves from a drop below this level in the next few hours, LINK might be well placed to hit $ 19,00 in the next sessions. Conversely, if they were to give up this level, then the token could slide down to $ 15,00 already in the short term.
Recall that at the present time Chainlink is in a fairly strong condition, aiming towards $ 17,10. In the short term, whether or not this level can be reversed from resistance to support will likely be the only factor that will determine its trend in the days and weeks to come.
However, it is still important to note that LINK is still trading well above where it was just three days ago when it was trading at $ 14,00.