$LINK / USDT – Minor Pullback After a Strong Rally – Finding Support for the Next Leg? 🔗📊
$LINK / USDT is currently trading at $14.37, experiencing a slight pullback of -3.75% today. The 4-hour chart on Binance shows a robust upward trend followed by a minor retracement, suggesting the market might be consolidating before another potential move.
🧐 Key Observations and Levels:
* Recent High Resistance: The recent peak around $15.28 represents a significant resistance level that the price tested.
* Potential Support Zone: The area around $14.15 appears to be acting as immediate support, aligning with the 24-hour low. Further support could be found near $14.00.
* Healthy Uptrend: Despite the current pullback, the overall trend on the 4-hour chart remains bullish, characterized by higher highs and higher lows.
🤔 Potential Scenarios to Watch:
* Support Hold and Rebound: If the price finds strong support around the $14.15 - $14.00 zone and shows signs of bullish reversal, a retest of the $15.00 and potentially the $15.28 resistance levels could be anticipated.
* Breakdown Risk: A failure to hold the $14.00 support could lead to a deeper correction, potentially towards the $13.50 level.
* Consolidation Phase: The price might consolidate within the $14.00 - $14.50 range in the short term before a clear direction emerges.
📈 Potential Long Entry (On Support Confirmation): Consider a long entry if the price shows clear signs of holding the $14.15 - $14.00 support area with bullish candlestick patterns or increasing volume, targeting the previous highs. A stop-loss could be placed below the support zone.
📉 Potential Short Entry (On Breakdown): A decisive break below the $14.00 support level with increasing volume might present a short entry opportunity, targeting lower support levels. A stop-loss could be placed above the breakdown point.
LINKUSDT · Binance
14.37 +0.04 (+0.28%) (based on the last 4 hours)
#LINKUSDT #Pullback #SupportLevel #BullishTrend #TradingOpportunity