Overall Trend:
The price of LINK/USDT is in a strong uptrend, breaking above key resistance levels and supported by bullish momentum. The price is well above the 200-MA, confirming sustained buying pressure and a continuation of the upward trend.
Key Observations:
Support and Resistance Levels:
Support:
The $14.00 level, close to the 200-MA, serves as strong dynamic support.
The $12.00–$13.00 zone acts as the demand area based on historical consolidation (purple demand zone in the second chart).
Resistance:
Immediate resistance lies at $20.00–$21.00.
Further resistance at $25.00 if the price continues upward.
Indicators:
RSI (Relative Strength Index):
The RSI is at 62.09, signaling bullish momentum but approaching overbought levels, suggesting potential for a pullback or consolidation.
MACD (Moving Average Convergence Divergence):
The MACD is positive, with a bullish crossover, confirming the continuation of upward momentum.
Volume:
Strong volume supports the recent price action, indicating significant trader participation in the rally.
Pattern and Zone Analysis:
A head-and-shoulders reversal pattern (visible in the second chart) confirms the long-term trend reversal, with the neckline breakout acting as a major bullish signal.
The current price is testing a resistance zone ($20.00), where sellers might start entering.
LINK/USDT is in a bullish phase, supported by strong momentum and a successful pattern breakout. However, traders should monitor the $20.00–$21.00 resistance closely, as this zone will determine whether the rally continues or faces a short-term correction.