💎 For over a year, #ChainLink has been range trading, but this changed in the last week. #LINKUSDT experienced a decisive break and close below the $5.5 support area. From a technical perspective, this could be seen as confirmation of the downtrend. However, we must consider the year-long price action before drawing conclusions. It is prudent to wait for the monthly closing price, as it might confirm or negate the continuation of the downtrend.
💎 Currently, #LINK has successfully triggered most of the stop losses of high leverage buyers, leading to increased buying liquidity. As a result, we could witness a rapid price growth before the monthly close. A potential pullback may occur, causing the price to encounter multiple resistance areas as indicated on our chart.
💎 While there is a certain probability that #ChainLink has bottomed out, it is important to note that we are still far from a strong confirmation of a bullish trend. The Paradise Team will closely monitor the price action and keep you informed about any significant developments.
💎 Currently, #LINK has successfully triggered most of the stop losses of high leverage buyers, leading to increased buying liquidity. As a result, we could witness a rapid price growth before the monthly close. A potential pullback may occur, causing the price to encounter multiple resistance areas as indicated on our chart.
💎 While there is a certain probability that #ChainLink has bottomed out, it is important to note that we are still far from a strong confirmation of a bullish trend. The Paradise Team will closely monitor the price action and keep you informed about any significant developments.
Trade closed: target reached
🌴 Paradise Club Members, it's time for an urgent update on #LINKUSDT! 💎As we precisely projected, #LINK has successfully reached the resistance trendline, boasting an impressive 76% overall price increase. This remarkable surge makes it one of the strongest gainers over the past week, along with #XRP and #XLM.
💎Now, the critical question looms before us: Will there be a decisive break above the trendline, followed by a breach of the key supply area?
💎The current market sentiment, characterized by increasingly robust buying pressure, suggests a favorable probability of further uptrend. There is a high likelihood that #LINK will venture toward the Selling Liquidity zone, situated just above the supply area.
💎However, this is where things could take an exhilarating turn. If the price continues to ascend, we may witness confirmation of a long-term uptrend.
💎The stage is set for an exciting ride, Paradise, but the question remains: Are you prepared for the potential scenarios that await us?
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Do you Want to start trading like a PRO?
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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.