$LINK Showing Signs of Recovery After Support Retest
$LINK is trading around 8.284 on the 1H timeframe after bouncing from the 8.246 support zone. Price is attempting to stabilize, but it remains below the major moving averages, so confirmation is still needed before expecting a stronger bullish move.
Market Analysis:
• Support is holding near 8.24.
• Immediate resistance is around 8.38–8.50.
• A breakout above resistance could trigger fresh buying momentum.
• Failure to hold support may lead to another downside test.
Trade Idea:
Entry: 8.26 – 8.30
Target 1: 8.40
Target 2: 8.50
Target 3: 8.65
Stop Loss: 8.18
Risk Management:
Never risk more than 1–2% of your trading capital on a single trade. Always use a stop loss and wait for confirmation before entering.
Let's go trade now $LINK
$LINK is trading around 8.284 on the 1H timeframe after bouncing from the 8.246 support zone. Price is attempting to stabilize, but it remains below the major moving averages, so confirmation is still needed before expecting a stronger bullish move.
Market Analysis:
• Support is holding near 8.24.
• Immediate resistance is around 8.38–8.50.
• A breakout above resistance could trigger fresh buying momentum.
• Failure to hold support may lead to another downside test.
Trade Idea:
Entry: 8.26 – 8.30
Target 1: 8.40
Target 2: 8.50
Target 3: 8.65
Stop Loss: 8.18
Risk Management:
Never risk more than 1–2% of your trading capital on a single trade. Always use a stop loss and wait for confirmation before entering.
Let's go trade now $LINK