Chainlink and Avalanche: Key Levels to Watch Now – Breakout Opportunity or Breakdown Risk for LINK & AVAX?

Chainlink and Avalanche are at crucial points that could signal major price movements. The upcoming days hold potential changes that might either present profitable opportunities or suggest growing concerns. This article delves into which levels traders should keep an eye on to understand where LINK and AVAX might be headed next. Explore the detailed analysis to identify potential breakout or breakdown signs.

Chainlink: Recent Price Swings and Key Levels to Monitor

Chainlink plunged nearly 28% in the last month before bouncing back with an 18.9% gain over the past six months. Price movements ranged consistently between roughly $10 and $23, showing volatility that reflects shifting market moods. The drop followed an earlier period of strength, with clear evidence of rebalancing in recent trading sessions.

Current price action places Chainlink between $10.20 and $22.70, facing resistance at about $30.59 and support near $5.58. Bearish momentum, highlighted by a negative Awesome Oscillator and low RSI, indicates subdued buying pressure. This suggests the market may trade sideways. Traders should watch these key levels for potential entry points if a reversal or upward movement toward resistance occurs.

Avalanche Price Snapshot Amid Volatility

Avalanche experienced a steady decline over the last month and six months with a 26.21% drop in one month and a 26.24% loss over six months, including a 10.88% dip in the past week. The coin’s price moved within a range of $16.74 to $31.56 during this time, highlighting a persistent bearish trend across these periods.

Current prices sit between $16.74 and $31.56 with a key support level at $11.10 and a resistance barrier at $40.73, along with a secondary resistance at $55.54. Bears show strength with low momentum indicators and an RSI near 40. Traders can explore moves within these ranges for potential upward reversals or breakouts.

Conclusion

LINK and AVAX are at crucial points. Support levels will show if they can hold strong. Resistance levels will signal potential upward movement. Watching these key levels can help in understanding their future trends. The direction these coins take next will be telling. Staying informed on these movements is essential.

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Bitzo, nor is it intended to be used as legal, tax, investment, or financial advice.