$LINK $LINK

LINK/USD Analysis – Eyeing the $22.83 Pivot

Current Price: $22.83

Key Levels:

Resistance: $24 (near-term hurdle), $26 (major target)

Support: $22 (strong demand zone), $20 (psychological level)

Market Overview:

LINK/USD is trading at $22.83, reflecting a period of consolidation as it approaches a critical resistance at $24. Bulls have successfully defended the $22 support, signaling buying interest at lower levels. However, the lack of momentum suggests traders are waiting for a decisive move.

Trading Strategy:

Bullish Entry: Look for a breakout above $24 with rising volume to target $26, setting a stop-loss at $22.50 to manage risk.

Bearish Entry: A breakdown below $22 could open the door for a move toward $20. Short positions should consider a stop-loss above $23.

Market Sentiment:

Chainlink’s strong fundamentals and continued adoption make it a project to watch. For now, traders should monitor price action around $22-$24 as a breakout could define the next trend. Stay patient and let the market reveal its direction.

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