LINK's price surged above $16.50, signaling bullish momentum, with potential for further gains upon surpassing the $18.00 resistance.
On the daily chart, ChainLink is trading above the Ichimoku Indicator, suggesting bullish sentiment.
Breaking out of the descending triangle pattern a few days ago, as observed on the daily chart, indicates a bullish trend reversal.
After finding support from the trendline, LINK's price surged, marking a 36% increase over 10 days.
Currently, a Marubozu candle is forming on the daily chart, indicating strong bullish momentum.
According to Coingabbar analysis, If bulls manage to breach the $18 resistance, LINK's price may target $20 in the subsequent weeks, provided market conditions remain supportive.
Conversely, a trend reversal could lead to a test of the $16 support level, with further downside potential to $15 this month in case of continued bear dominance.
KEY LEVELS :
RESISTANCE LEVEL : $18.500-$21.000
SUPPORT LEVEL : $15.500-$13.000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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