• 19 June, 2024
Market News News

Analysts Highlight Critical Support Levels for MATIC and LINK Amid Drops

Crypto analysts are closely monitoring Polygon (MATIC) and Chainlink (LINK) as recent price actions test key support levels. CryptoJack, a prominent analyst on X, highlighted that MATIC has broken to the downside from its triangle pattern and emphasized the importance of maintaining support at $0.65 to remain bullish. A failure to hold this level could signal a significant price drop. Meanwhile, Crypto Tony shared insights on Chainlink, indicating plans to shed some of his long-term positions if LINK reaches $35, but for now, the price remains range-bound.


It is important to note that Polygon (MATIC) is trading at $0.6479, reflecting a -0.70% decline over the past 24 hours and an -8.32% decline over the past week. With a 24-hour trading volume of $285,150,088 and a market cap of $6,015,602,107, MATIC’s price movement is critical. CryptoJack’s analysis points to the importance of the $0.65 support level. If MATIC fails to respect this support, it could lead to a significant downward trend, highlighting the necessity for close monitoring by investors.

On the other hand, Chainlink (LINK) is priced at $15.96, experiencing a -0.30% decline in the last 24 hours and an -11.07% decline over the past seven days. With a 24-hour trading volume of $269,853,477 and a market cap of $9,373,981,702, LINK remains a significant player in the market. 

Crypto Altseason Predictions Heat Up as Market Sentiment Shifts

Crypto Tony’s recent analysis indicates that while LINK remains in a range-bound state, he plans to shed some of his long-term positions if the price reaches $35. This strategic move underscores the importance of tracking LINK’s price movements for potential shifts in trading strategy.


A recent report by CryptoTale shows Chainlink (LINK) has solidified its status as the top project in the real-world asset sector, showcasing the highest non-redundant GitHub activity over the past 30 days. This analysis underscores Chainlink’s relentless innovation and development, significantly surpassing other notable projects such as Maker, Oraichain, and IX Swap.

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