$LINK Bulls Eye Major Breakout – Key Levels to Watch Right Now!

Chainlink’s #LINK has exhibited impressive resilience on the 1-hour chart, with the 9 EMA crossing and maintaining dominance over the 20 EMA. This signals a strong bullish trend, driven by consistent buying pressure. The MACD initially shows robust bullish momentum, but recent histogram reductions hint at potential consolidation.

With the RSI near overbought levels, traders should be cautious of short-term pullbacks, but the prevailing sentiment remains bullish. The resistance level of $25.23 stands as a formidable hurdle; a breakout could signal a continuation of the uptrend, while support at $18.65, $18.64, and $18.51 provides critical downside protection.

Long trades may be favorable on a confirmed breakout above $25.23, targeting higher levels. Conversely, short traders might look for signs of rejection at resistance, aiming to capitalize on potential corrections to support levels. Proper risk management, including stop-loss placements, is key to mitigating risks in either scenario.