For the past 3 weeks, LINK traded in a range with extremes at $6.2 and $6.8. The range high aligns with a critical former support level in late March/April.
The range-low coincides with a bullish OB (white) on the 4-hour chart formed on 12 May.
A possible rebound at mid-range could see LINK rally to the range high of $6.8, especially if BTC reclaims $28k.
But, the mid-range of $6.5 could be breached and a retest of the range low/bullish OB could be on the cards if BTC dips to $26k again.
The range-low coincides with a bullish OB (white) on the 4-hour chart formed on 12 May.
A possible rebound at mid-range could see LINK rally to the range high of $6.8, especially if BTC reclaims $28k.
But, the mid-range of $6.5 could be breached and a retest of the range low/bullish OB could be on the cards if BTC dips to $26k again.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.