$LINK Bulls on Standby: Breakout or Rejection Ahead?
Chainlink (LINK) is currently hovering around $19.27 after an intraday high of $20.01. The price is coiling just below a local resistance, signaling a decisive move is near. With rising volume and tight consolidation, traders should brace for volatility.
Key Levels to Watch
• Immediate Resistance: $19.40 — Break above this level may ignite upside toward:
• Target 1: $19.85
• Target 2: $20.20
• Critical Support: $19.00 — A loss of this zone could bring pressure down to:
• Target 1: $18.63 (24h low)
• Target 2: $18.20
Trade Setup
• Bullish Entry: Confirmation above $19.40 with volume spike
• Target 1: $19.85
• Target 2: $20.20
• Bearish Entry: Breakdown below $19.00
• Target 1: $18.63
• Target 2: $18.20
Watch the volume — surging buying interest above $19.40 can trigger a short squeeze. However, failure to reclaim this zone may lead to a fast rejection. Stay nimble!