Chainlink is currently approaching its long-standing $11 weekly support, with analysts closely watching the market activity for potential future moves. The structure shows lower highs while price presses towards this crucial zone that has held firm since mid-2024. This historical support area, which has repeatedly influenced larger market trends, now serves as a key indicator for traders.
Experts believe if buyers defend this level again, it could indicate a fresh upward trend. However, the current momentum remains mixed with some notable downward pressure on prices.
Chainlink’s weekly chart indicates continued movement within a long-term symmetrical triangle pattern. This pattern shows a continuous interplay between rising support and falling resistance near the $11-$12 range. The price repeatedly interacts with this zone, suggesting its potential impact on future market trends. The ongoing analysis by Crypto Pulse shows significant interest in this support level as it’s been a key reaction point across multiple market cycles.