Technical analysis and trade signals for the $LINK /USDT pair with three target levels and momentum analysis:
Current Price: $21.36
Trend: Bullish (+14.65% in the last 24 hours)
Support Levels:
First Support: $18.43 (24h low)
Second Support: $19.50 (previous resistance turned support)
Resistance Levels:
First Resistance: $21.40 (24h high)
Second Resistance: $22.00 (psychological resistance level)
Third Resistance: $23.00 (upper trendline of the recent move)
Momentum:
RSI: Currently at 70 (indicating overbought conditions), but could still extend with continued strong bullish momentum.
MACD: The MACD line is above the signal line, confirming a bullish momentum in the short term.
Volume: 344M USDT in 24h shows healthy trading activity with an uptick in buying pressure.
Trade Signal and Target Levels:
Entry:
Ideal Entry: Around $21.00 (a slight pullback before continuation upwards) or above $21.40 to confirm bullish continuation.
Target Levels:
1. Target 1: $22.00 (first resistance, slight consolidation expected here)
2. Target 2: $23.00 (upper trendline; major resistance zone)
3. Target 3: $24.50 (psychological resistance, a stretch goal if the trend continues)
Stop Loss:
Place stop loss at $19.50 (below the second support level) to manage risk in case of a market pullback.
Trade Momentum:
The overall trend is bullish, supported by increasing volume and positive RSI/ MACD.
Monitor for signs of overbought conditions (RSI > 70), which could indicate a potential reversal or pullback, especially near Target 2 ($23.00).
Recommendation:
Scalping: Look for short-term gains near Target 1 and Target 2.
Swing Traders: Hold until Target 2 ($23.00) or Target 3 ($24.50) is reached, adjusting stop-loss levels to lock in profits.
This analysis suggests a strong upward trend with potential for further gains. Keep monitoring the RSI and MACD for early signs of trend exhaustion.