👉The major resistance point of$LINK going out of the bearish zone today was at $7.2/ $$7.3. It took around an hour to finally break the first resistance zone and it did it before #BTC . I took a long position with low leverage and an entry point of $7.5. It it goes down, the grid will stop, of it goes up, it'll activate again.
The main aspects that I took into account in this kind of market:
-Search for resistance points and compare with bigger coins behavior .
-low leverage ( no more than 5x)
-Pre define entry market points or point, don't let the market define it for you, it's safer in the bearish zone .
-Tight SL.
-Bird eye view analysis ( if you analize minutes, hours, a day, it can look bearish, but if you analize a whole month, you might find that the graphic turns out bullish and also find a pattern,like today).
-You can also trade bearish ( I would use it more for spot trading, just my opinion).
- Don't trade big amounts.
👾This is not a signal! it's just my analysis on $LINK . Please do your DYOR on every trade signal you see before taking them, the market it's very volatile and people can make mistakes and loose big, even the more prepared ones and that's ok, those are the rules of the game.
📝Side note : I saw a lot of people blaming on others their losses, because the signal wasn't good, wasn't accurate ,etc. The things is, in the end the desition it's yours and only yours over your money . You have to go and do your own research of the market, even if you hold a minimum knowledge of chart reading can save you from loosing money in some cases.
Have a good traiding day!! 💜
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As the year comes to a close, a handful of altcoins are correcting upwards, and LINK is one of the most promising at this time. As depicted in the technical charts, Chainlink (LINK) is gearing up for a potential bullish run.
Altcoins have recorded another major burst as the market heads towards Christmas Eve weekend. While some tokens are already trading upwards, others are preparing for a potential bull run. LINK is one such asset, which, at this time, is gearing up for a 20% price upswing.
Per the asset’s recent performance, LINK has successfully tapped the 50-day Exponential Moving Average. This technical pattern is often seen as the first line of support in an uptrend or the first line of resistance in a downtrend.
With LINK hitting the 50-day EMA, the asset could imitate previously bullish patterns recorded during periods like this. In previous times, the 50-day EMA has positioned itself as support of resistance for cryptocurrencies. This might be the case for LINK in the near term, should the market follow the same path.
In the near term, if LINK bulls sustain momentum at this position and kick off a mild rally, it could extend into a long-term uptrend. Recall that LINK and a handful of other altcoins have been imitating Bitcoin’s movement. As the market corrects upwards, altcoin bulls are gaining stability and mirroring this pattern.
On-chain Metrics Show LINK is Positioned for an Upward rally
Meanwhile, on-chain metrics are showing that there might be some hurdles in the asset’s way. A popular market analyst Ali Chart, made some notable observations on X, formerly Twitter. He explained that LINK was likely to encounter pushback before climbing up to $15.
However, if the asset succeeds in moving past the hindrances, the asset could continue to trade in the green zone and head for higher highs, he added. The analyst explained
At report time, our data shows that LINK has surpassed the first barrier and is trading slightly above $15. The altcoin is trading in the green zone, with hourly and 7-day gains going up to as high as 2.13% and 8.31% respectively.
Selling pressure has dropped significantly for LINK this month as buyers have maintained their position with the upper hand. Although trading volume is down by more than 28.06%, LINK is trading at a press time price of $15.84.
$LINK #link #Chainlink
