Here's the latest analysis update for LINKUSDT:
Current Trend and Price
LINKUSDT is currently trading at approximately $28.96, with a bullish trend in the 4-hour time frame. The Relative Strength Index (RSI) is at a healthy 55.57, signaling no overbought condition yet, and leaving room for further upward movement.
Key Levels to Watch
- Support Zones: $22.50, $21.00
- Resistance Zone: $27.00, $30.90, $37.06
Bullish Setup
A Bullish Butterfly pattern is forming on the 15-min timeframe, providing strong support. Additionally, a Bullish Ascending Triangle pattern is visible on the 4-hour timeframe, reinforcing the bullish sentiment.
Trade Setup
- Entry: At current market price ($28.96)
- Stop Loss (SL): $25.46 (-11.99%)
- Target: $37.06 (28.1%) and $30.9 (6.81%)
Market Sentiment
The overall market sentiment for LINKUSDT is bullish, with some analysts predicting a potential breakout above the resistance level. Chainlink's on-chain momentum and fundamentals are bullish as well, growing active addresses and an all-time high futures open interest of $770.27M.