Bullish $LINK recently broke out of a multi-year symmetrical triangle and is holding above key support near $21.00–$22.00. The bullish structural shift is reinforced by significant whale accumulation and the activation of the Chainlink Reserve mechanism. Immediate resistance lies in the $22.90–$23.10 zone.
Fibonacci Levels:
Retracement status: LINK is trading above the 0.618 Fibonacci retracement level at $20.25, affirming bullish momentum.
Price zones:
Support: ~$20.25 (0.618 Fib) and $21–$22 (structural base)
Resistance: ~$22.90–$23.10 (short-term), then ~$26.50 (next major Fib resistance)
RSI:
Value: Around 78.4 on Investing.com — indicating overbought territory.
Interpretation: Strong momentum is present, but the elevated RSI warns of a near-term pullback risk.
Entry Zones:
Safer: Near $21.00–$21.50, where support has shown resilience and whales are accumulating.
Aggressive: If price dips closer to $20.25, aligning with the 0.618 Fib level — higher risk, but better reward.
Take-Profit Zones:
TP1: $23.00, near short-term resistance and pivot levels.
TP2: $26.50, the next larger Fibonacci resistance target. Further upside stretch toward $31–$35 is possible if the breakout holds.
Stop-Loss Ideas:
Conservative SL: Below $21.00, beneath current support and accumulation zone.
Tight SL: Slightly below $20.25, just under the key Fibonacci retracement level.
