๐$LINK LINK/USDT Gains 8.88%: Will $25 Resistance Hold?
๐ Current Price: $23.91 (+8.88%)
๐บ Resistance Levels: $24.97 and $25.50
๐ป Support Levels: $23.50 and $22.47
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Market Overview
Chainlink (LINK) is making significant upward strides with an 8.88% surge in the last 24 hours. It touched a high of $24.97, showing strong bullish momentum, but is currently consolidating just below the key resistance.
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Key Indicators to Watch
1๏ธโฃ Volume Trends:
Trading volume remains robust, supporting bullish momentum.
2๏ธโฃ RSI Levels:
RSI is nearing overbought levels, signaling potential short-term consolidation.
3๏ธโฃ Support and Resistance:
Immediate support at $23.50 is critical to sustaining the uptrend, while $24.97 serves as the next major resistance to overcome.
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Scenarios to Watch
Bullish Case:
If LINK breaks above $24.97, it could challenge the psychological $25.50 level and aim for $26.
Bearish Risks:
Failure to hold above $23.50 might lead to a pullback toward $22.47, where buyers could re-enter.
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Trading Strategy
โ For Bulls:
Look for a breakout above $24.97 with strong volume.
Targets: $25.50 and $26.
โ For Bears:
Consider short positions if LINK drops below $23.50, targeting $22.47 or lower.
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Final Thoughts
LINKโs bullish momentum shows promising potential, but the $25 resistance level is a crucial barrier to watch. Monitor volume and price action closely for signs of continuation or a possible retracement.
Will LINK push past $25 and continue its rally? Share your insights!