LINK/USDT (1D): Wait for a reaction at the key resistance zone! 📊🔗
After the impressive rally from the August bottom (around the 8.8x area), $LINK quickly pushed back up into the rising price channel (Ascending Channel) on the Daily timeframe and is now very close to a hard resistance area around $11.8 - $12.0.
Notable points on the chart:
Short-term trend: Continuous green candlestick strength indicates that the buyers (Bulls) are in control.
Key resistance zone (Green Zone): $11.8 - $12.0 is the area of the previous highs and also touches the upper edge of the price channel. This is where strong supply pressure is concentrated.
Trading scenarios:
Short for a quick move (Survey reaction): If price shows a clear rejection at $11.8 - $12.0, a technical pullback back toward the middle of the channel or the support area around $10.0 - $10.5 is entirely possible.
Long breakout: If buying pressure is strong enough to cleanly break out above the $12.0 level, the uptrend will likely continue expanding toward higher milestones.
⚠️ Risk management note: Set a proper Stop Loss (for example, above the $12.24 level if entering a Short) to avoid wick-driven liquidation that sweeps orders.
Which scenario are you leaning toward for LINK over the next few days? A breakout above $12, or a slight pullback before the next move up? Drop your thoughts and let’s discuss! 👇
#BinanceSquare #LINK #CryptoTrading #TechnicalAnalysis #Chainlink
After the impressive rally from the August bottom (around the 8.8x area), $LINK quickly pushed back up into the rising price channel (Ascending Channel) on the Daily timeframe and is now very close to a hard resistance area around $11.8 - $12.0.
Notable points on the chart:
Short-term trend: Continuous green candlestick strength indicates that the buyers (Bulls) are in control.
Key resistance zone (Green Zone): $11.8 - $12.0 is the area of the previous highs and also touches the upper edge of the price channel. This is where strong supply pressure is concentrated.
Trading scenarios:
Short for a quick move (Survey reaction): If price shows a clear rejection at $11.8 - $12.0, a technical pullback back toward the middle of the channel or the support area around $10.0 - $10.5 is entirely possible.
Long breakout: If buying pressure is strong enough to cleanly break out above the $12.0 level, the uptrend will likely continue expanding toward higher milestones.
⚠️ Risk management note: Set a proper Stop Loss (for example, above the $12.24 level if entering a Short) to avoid wick-driven liquidation that sweeps orders.
Which scenario are you leaning toward for LINK over the next few days? A breakout above $12, or a slight pullback before the next move up? Drop your thoughts and let’s discuss! 👇
#BinanceSquare #LINK #CryptoTrading #TechnicalAnalysis #Chainlink