Chainlink Plunges 17%—Here’s the One Move That Could Spark a Stunning Comeback
If Chainlink had a bullish reaction, it would likely come from the $15.5 demand zone. It had been an important zone in the second week of July, where prices consolidated briefly before racing higher.
It also has confluence from the 50-day moving average. The Fixed Range Volume Profile from the beginning of July showed that the Value Area Low (dotted blue) was at $15.7.
Traders can keep an eye on Bitcoin too, to give clues for a LINK trend reversal.
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