LINKUSDT 1W
CHAINLINK/USDT
LINK has recently shifted its momentum from bearish to bullish after breaking above its previous major high at $10.80, signaling a potential change in market structure.
Following this bullish impulse, price is currently going through a correction phase, pulling back toward a key demand zone.
Technical Outlook
The recent price action highlights two important phases:
Impulse: LINK broke above the $10.80 major high, confirming a bullish shift in momentum.
Correction: Price is now retracing toward the green demand zone around $8.00-$9.00, where buyers previously stepped in.
Preferred Scenario
As LINK approaches the green demand zone, we will be looking for bullish confirmation and potential long setups, aiming to catch the next bullish impulse movement.
As long as this demand zone holds, our bullish scenario remains valid.
Important Note
A bullish market doesn't move in a straight line. It typically alternates between impulse and correction phases.
The idea is not to chase the impulse, but to wait for the correction to offer a better entry opportunity.
However, a confirmed breakdown below the demand zone would weaken our bullish outlook and call for reassessment.
▲ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always manage your risk.
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