Chainlink (LINK) :

Inverse Head & Shoulders in Play ? Key Levels to Watch!

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Technical Overview :

Chainlink (LINK) is poised at a critical juncture, with an evolving pattern suggesting significant upside potential. After a strong green candle, the current correction could form a potential inverse head-and-shoulders (H&S) pattern, adding intrigue to LINK’s bullish setup.

Key Resistance Levels :

$47.18 :

Target from the breakout of the inverse H&S neckline. A decisive close above this level could fuel bullish momentum.

$55.00 :

Target derived from the macro bull flag breakout, representing a major price milestone.

Key Support Levels :

$34.00–$35.50 :

Right shoulder formation zone, ideal for entries if the correction deepens.

$30.00 :

Strong base in case of extended pullback, reinforcing bullish support.

Potential Scenarios :

Bullish Continuation :

If LINK breaks the neckline during its current rally, the $47.18 target becomes imminent.

A sustained breakout can push prices toward the macro bull flag target of $55.00.

Formation of Inverse H&S :

A deeper correction forming the right shoulder could offer an entry point around $34–$35, enhancing potential upside gains.

This pattern adds strength to the bullish narrative if confirmed.

Pro Tip for Investors :

Watch for sustained price action above $47.18 for confirmation of the breakout.

For risk-averse investors, consider accumulating around the $34 support zone. Set stop-loss below $30 for risk management.

Conclusion :

LINK’s bullish trajectory is backed by a breakout from a macro bull flag and a potential inverse H&S pattern. While speculative, the pattern could offer high-percentage gains if the right shoulder forms. Regardless, LINK’s bullish momentum remains intact with targets of $47.18 and $55 in sight.

Stay cautious, plan your entries, and always manage risk in volatile conditions! 🚀