$LINK Rebounds Near $17.85 Support – Bullish Setup or Short-Term Trap?
LINK/USDT is currently trading at $17.97 (+4.84%), showing signs of recovery after a pullback earlier in the day. The price is consolidating just under local resistance on the 15-minute chart, indicating a critical decision zone. A confirmed breakout could signal continuation, while a failed move risks deeper downside.
Key Technical Levels
• Resistance Zone: $18.20 – $18.40
This zone has capped multiple upside attempts. A strong breakout could shift momentum back in favor of the bulls.
• Support Zone: $17.80 – $17.85
Holding this level maintains the structure for a potential higher low setup.
Trade Setup – Critical Test Ahead
Bullish Breakout Setup
Entry: Break and hold above $18.40
Target 1: $18.80
Target 2: $19.15
Bearish Breakdown Setup
Entry: Drop below $17.80
Target 1: $17.30
Target 2: $16.85
With price holding above $17.85 and bids stacking, LINK may be prepping for a breakout. However, without volume confirmation, a fakeout remains a risk. Monitor closely as price approaches the upper range.