$LINK remains the only altcoin among the analyzed group that has not yet reclaimed its primary resistance level against Bitcoin. However, it recently broke out of a descending resistance trendline, forming a bullish engulfing candlestick last week.
This trendline had persisted for 280 days before the breakout, indicating that LINK’s extended downtrend may now be over. Weekly time frame indicators further support this bullish outlook. Both the RSI and MACD have shown bullish divergences, which began before the breakout, adding credibility to the reversal.
For a confirmed trend reversal, LINK needs to close above the ₿0.00190 horizontal resistance level. Achieving this would likely push the RSI above 50 and the MACD above 0, reinforcing bullish momentum. Such a move could open the door for a potential 55% rally, targeting the next resistance zone at ₿0.00300.
