LINKUSDT trade ideas
LINK/USDT at Critical Support: Will the Bears Take Over?LINK/USDT is currently trading just above the key marked support zone and has faced rejection twice from the falling trendline.
If the price fails to hold this support, further downside continuation is likely.
Stay tuned for more updates!
DYOR, NFA
TradeCityPro | LINK: Key Support and Resistance Analysis๐ Welcome to TradeCity Pro!
In this analysis, I will review the LINK token. Chainlink is one of the notable Web3 projects in crypto and ranks 14th in terms of Total Value Locked (TVL).
โณ 4-Hour Timeframe: Break Below the Range?
In this timeframe, after the price reached the ceiling at $30.51, lower highs were recorded, and the price repeatedly tested the $19.98 support. Currently, the price has managed to close below this level on the 4-hour timeframe.
๐ If the price establishes a lower high and a lower low below $19.98, it will confirm a trend reversal for this token. In this scenario, the price could potentially drop to $16.35. Breaking below 24.87 on RSI and continuing the increasing bearish volume could result in a sharp decline to the $16.35 zone. If this level is broken, the next support will be at $14.08.
๐ฐ The current decline was primarily triggered by positive news for the US dollar a few days ago, which significantly impacted the market, leading to notable drops in many altcoins. If we consider this news to have only a short-term effect, there is a possibility that altcoins might fake out their support levels. Therefore, itโs advisable to identify a long trigger as well.
๐ If the $19.98 support proves to be a fakeout, a position could be opened based on the structure formed in lower timeframes. For the main long trigger, the first level to watch is a break above $25.45, which is the initial trigger. The next trigger is $30.51, the current ceiling of this trend.
๐ Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and donโt forget to share this analysis with your friends! โค๏ธ
LINK Approaches Key Inflection Point within Symmetrical TriangleThe recent news highlights that Ripple is expanding RLUSD adoption by integrating Chainlink's price feeds, further enhancing the utility of stablecoins. This development could contribute to increased market interest in Chainlink (LINK). At present, LINK has reached a critical support and high-demand zone between $20.50โ$21.50, where buyers have historically stepped in.
For those considering a short position, exercise extreme caution, as this zone is a strong support level. Place your stop loss very close to minimize risk, as a reversal or breakout could invalidate the trade quickly.
For those looking to go long, it is prudent to wait for a confirmed breakout above $23.00 to ensure the upward momentum is backed by volume and market strength.
The market is currently volatile and uncertain, so trade cautiously, ensuring proper risk management and patience for clear technical signals before committing to any position.
Chainlink: A New Opportunity with Reversal Trend๐ Chainlink has recently formed a "Head and Shoulders" pattern, but it hasn't played out as expected. It appears to be a liquidity grab, with the market moving in the opposite direction. This reversal could present a great entry point to capitalize on the upcoming bullish trend! ๐
๐ Entry Point: $24
๐ Stop Loss: $19.5
๐ฏ Target Profit: $40
๐ Based on current analysis, these levels suggest a strong short-term bullish move. Given the market dynamics and the reversal after the failed pattern, you can enter this opportunity with more confidence. ๐
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$LINK (1D) Shorts?CRYPTOCAP:LINK (1D) โ Potential Scenario Considering Correlation with BTC
There is an area of interest for CRYPTOCAP:LINK at $23.62โ$24 (FVG), from which the price could theoretically start a decline. This area should only be considered if thereโs a clear reversal setup and confirmed correlation with BTC.
For me, the priority remains waiting for the $26 zone to open a more precise short position.
Key Points:
โข We have already taken out PDH and PWH, which could indicate a potential reversal from the $23.62โ$24 zone.
โข The $23.62โ$24 (FVG) is a potential zone for shorts, but only if a confirmed reversal setup appears.
โข For BTC, I expect a correction to the $102,975 zone, so CRYPTOCAP:LINK โs behavior will directly depend on BTCโs dynamics.
My Plan:
I am closely monitoring the development of the situation in the $23.62โ$24 zone. If a clear reversal setup appears there, confirmed by BTCโs movement, I will consider opening short positions. At the same time, the $26 zone remains a higher-priority level for a more confident short entry.
LINKUSDT Breakout Alert: Bullish Momentum Above 50 EMA!BINANCE:LINKUSDT Breakout Alert: Bullish Momentum Above 50 EMA!
After multiple tests of the support zone, BINANCE:LINKUSDT has finally bounced off and broken out of its descending trendline, signaling a potential strong uptrend. With the price now holding above the 50 EMA, bullish momentum is evident, and the market may be gearing up for a significant move higher. Traders should consider entering on a pullback while targeting key resistance levels. As always, proper risk management is crucialโset your stop-loss below the support zone and align your position size with your risk tolerance to stay on the safe side.โจ
BINANCE:LINKUSDT Currently trading at $22.5โจโจBuy level: Above $22
Stop loss: Below $19
Target : $40
Max Leverage 3x
Always keep Stop lossโจโจFollow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
There Exist Nothing Better Than Today โNow: ChainlinkYes! The highest volume ever happened in late 2024. We are looking at Chainlink on Kraken. So there has never been as much buying as it just happened a month ago. This is a clear bullish signal.
The highest volume period preceding this one happened in November 2023. This was followed by growth. The next highest volume period happened in November 2024. This will be followed by massive growth...
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The situation in which we find ourselves now is definitely good.
It is too good to be missed and too good to be ignored but not too good to be true because it is already confirmed, it cannot be avoided and it cannot be denied or cancelled; Crypto is going up.
Chainlink has many great fans. Thanks a lot for your continued support.
โThe chart is saying up.
The last correction was a long one. It happened between and March and August 2024 and was followed by a consolidation phase, a small one. That correction being long, this one can be short, the law of alternation.
LINKUSDT closed three weeks red. That's the end of the short-term correction.
Thank you for reading. We are going up next.
I am not focusing on the levels and the All-Time Highs because we looked at those many times in late 2024. These charts are more intended for entry timing, enthusiasm, a friendly reminder, learning and fun. They are intended to wake you up; shake you up; prepare you! Get ready, Crypto is going up.
Cryptocurrency has been growing for months. In some instances for years and it will continue to grow. Higher highers long-term. I am ready.
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