$LINK /USDT-Cautious pullback after bullish momentum
Support / Resistance:
Support: Near-term support resides around $24.00.a recent intraday low showing buyer interest.
Resistance: Key resistance sits around $26.50, with broader supply expected in the $27–$28 area.
Fibonacci Levels
Retracement Status: LINK recently broke out from a long-term triangle pattern and retraced to its 0.786 Fibonacci resistance, acting as a short-term price ceiling.
Key Price Zones:
Support Zones (Retracements): Around $24.00 (short-term), and deeper around $23.00–$22.00 if pullback accelerates.
Resistance Zones: $26.50 (immediate), then $31.87 (next Fibonacci extension) en route to wider upside targets.
RSI
Value & Interpretation:
Short-term RSI readings are neutral to slightly bearish: RSI around 42.5 (Investing.com) and RSI ~50–56 (RSI Hunter short vs. mid-term).
Recently, RSI was in overbought territory (~83) before peaking and retreating suggesting momentum slowdown post-breakout.
Entry Zones
Safer Entry: Around $24.00–$24.30, where near-term support and neutral RSI offer better risk-to-reward.
Aggressive Entry: On a confirmed breakout above $26.50–$27.00, especially with volume confirmation indicating renewed momentum.
---
Take-Profit Zones
TP1: $26.50–$27.00, aligned with Fibonacci resistance and recent peaks.
TP2: $31.80–$32.00, based on the Fibonacci extension target from triangle breakout.
Stop-Loss Ideas
Conservative: Just below support at $24.00, such as $23.80, to allow for intraday range movement.
Tight: Slightly below entry around $26.00 if entering on breakout to limit downside in case of false moves.
