Current Market Structure
LINK/USDT is trading at $21.48 with a +8.65% increase. Price has broken out of a long-term inverse head and shoulders pattern, with strong momentum above MA200 ($14.58).Key Price Levels
Major Resistance: $22.00 (psychological level)
Minor Resistance: $21.50 (current price action)
Major Support: $20.00 (previous resistance turned support)
Minor Support: $18.50 (neckline of inverse H&S)
Technical Indicators
RSI (14): Reading at 78.08, indicating overbought conditions
MACD: Bullish momentum with values (0.19, 0.58, 0.40)
Volume Profile: Strong buying volume at 4.355M showing significant interest
Pattern Analysis
Completed inverse head and shoulders pattern
Left shoulder formed in May
Right shoulder formed in August
Clear breakout from neckline with strong volume confirmation
Market Outlook
LINK shows exceptional strength with a clear breakout from a major bottoming pattern. While overbought conditions suggest potential short-term pullback, the overall structure remains strongly bullish. Key support at $18.50 must hold to maintain upward momentum.