Resistance and Support Levels in Focus

The initial significant level of resistance lies in the vicinity of $7.342. A definitive breakthrough above this threshold has the potential to initiate a fresh upward movement towards the $7.500 and $7.893 levels. Subsequently, the next prominent resistance level emerges around $8.000, surpassing which the price may revisit $8.800.

In the event that Chainlink's price fails to surpass the resistance level at $7.342, a downward correction could be anticipated. The first support level on the downside is approximately $6.90.

Furthermore, the subsequent major support level is situated near $6.650, accompanied by the trend line zone. Breaching this level would likely prompt the price to test the $6.445 level. Further losses could potentially drive the price towards the $6.029 level in the short term.