In its latest technical analysis of Chainlink (LINK), cryptocurrency analytics company MakroVision stated that the asset is seeking a recovery after a sharp correction, but a strong trend reversal has not yet been confirmed.
According to MacroVision’s assessment, LINK has begun to show signs of stability for the first time after the significant pullback in recent months. The fact that the price is holding above the critical support zone, particularly in the $12.6–$12.9 range, indicates that selling pressure is weakening in the short term. Analysts also believe that candlestick patterns now point to a consolidation process rather than an aggressive decline.
However, MakroVision emphasizes that the current recovery is still technically fragile. As long as the LINK price remains below the main resistance zones, any upward attempts are likely to be limited and temporary.
The analysis highlights the $17.2 level as the upper band of the price movement. According to the company, a sustained break above this level could significantly improve the technical outlook for Chainlink and re-establish upward momentum. Such a scenario could also pave the way for a broader recovery.
In its conclusion, MacroVision stated that Chainlink is currently searching for direction.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/whats-the-latest-on-chainlink-link-analysis-firm-assesses-the-likelihood-of-a-recovery/
