Updated Technical Analysis for $LINK /USDT
Current Price: $24.87 (+4.85%)
Key Observations:
The price is rebounding from $24.85, showing early signs of bullish momentum.
Moving averages suggest a consolidation phase near support, indicating potential upward movement.
Targets:
1. Target 1: $25.10
Immediate short-term resistance. A breakout here could confirm bullish sentiment.
2. Target 2: $25.50
Medium-term resistance and a significant psychological level.
3. Target 3: $26.20
Long-term bullish target if momentum continues to strengthen.
Action Plan:
Short-Term Traders:
Monitor the price near $25.10. If rejected, consider taking partial profits.
Keep a tight stop-loss below $24.70.
Long-Term Investors:
Maintain positions with a stop-loss below $24.00 to capture the potential extended rally.
Add positions if volume surges above $25.50.
Indicators to Watch:
Volume: Increasing buying pressure would confirm bullish strength.
Moving Averages: Crossing of MA(5) above MA(10) could signal a continuation of the uptren
