Chainlink (LINK) is showing a strong bullish reversal on the daily chart after denying further downward momentum around the $10.11 key support zone.
Recently, LINK broke out of a falling channel, indicating a potential shift in trend direction. The MACD indicator also confirms bullish momentum with a positive crossover and growing strength.
Trading Setup
Entry: $15.05
(Current market price after the breakout confirmation.)
Stop Loss: $12.98
(Below the recent consolidation zone to minimize risk.)
Take Profit 1 (TP1): $18.77
(First major resistance — ideal for partial profit booking.)
Take Profit 2 (TP2): $26.23
(Higher resistance zone — extended target if bullish momentum continues.)
Fundamental Reasons to Stay Bullish on LINK
Chainlink’s Real-World Adoption: Chainlink’s oracle services are increasingly being integrated into major DeFi, NFT, and traditional finance platforms, bridging blockchain and real-world data.
Launch of CCIP (Cross-Chain Interoperability Protocol): Chainlink’s CCIP makes cross-chain communication more secure and scalable, and it is gaining adoption among major blockchain projects.
Partnership Momentum: Chainlink has continued to form key partnerships with institutions and projects like Swift, major banks, and large blockchain ecosystems, reinforcing its long-term value.
Staking V2 Launch: With Chainlink staking 2.0 offering higher rewards and greater security, demand for LINK tokens has increased among investors looking for yield.
Market Sentiment Shift: As blockchain infrastructure projects gain renewed interest during the broader Web3 and DeFi resurgence, oracle providers like Chainlink are seen as critical infrastructure, enhancing investor confidence.
Summary
Chainlink looks ready for a new upward move both technically and fundamentally. The breakout, supported by improving fundamentals like new partnerships and growing utility, makes LINK one of the most attractive mid-cap projects to watch right now. Traders should monitor the $18.77 and $26.23 resistance levels closely.
🔵 Trend Bias: Bullish
⚡ Risk/Reward Ratio: ~3:1
🌟 Overall Outlook: Technically and fundamentally positive
Recently, LINK broke out of a falling channel, indicating a potential shift in trend direction. The MACD indicator also confirms bullish momentum with a positive crossover and growing strength.
Trading Setup
Entry: $15.05
(Current market price after the breakout confirmation.)
Stop Loss: $12.98
(Below the recent consolidation zone to minimize risk.)
Take Profit 1 (TP1): $18.77
(First major resistance — ideal for partial profit booking.)
Take Profit 2 (TP2): $26.23
(Higher resistance zone — extended target if bullish momentum continues.)
Fundamental Reasons to Stay Bullish on LINK
Chainlink’s Real-World Adoption: Chainlink’s oracle services are increasingly being integrated into major DeFi, NFT, and traditional finance platforms, bridging blockchain and real-world data.
Launch of CCIP (Cross-Chain Interoperability Protocol): Chainlink’s CCIP makes cross-chain communication more secure and scalable, and it is gaining adoption among major blockchain projects.
Partnership Momentum: Chainlink has continued to form key partnerships with institutions and projects like Swift, major banks, and large blockchain ecosystems, reinforcing its long-term value.
Staking V2 Launch: With Chainlink staking 2.0 offering higher rewards and greater security, demand for LINK tokens has increased among investors looking for yield.
Market Sentiment Shift: As blockchain infrastructure projects gain renewed interest during the broader Web3 and DeFi resurgence, oracle providers like Chainlink are seen as critical infrastructure, enhancing investor confidence.
Summary
Chainlink looks ready for a new upward move both technically and fundamentally. The breakout, supported by improving fundamentals like new partnerships and growing utility, makes LINK one of the most attractive mid-cap projects to watch right now. Traders should monitor the $18.77 and $26.23 resistance levels closely.
🔵 Trend Bias: Bullish
⚡ Risk/Reward Ratio: ~3:1
🌟 Overall Outlook: Technically and fundamentally positive
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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.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
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.