**Current Price:** $16.06 ๐ฐ
**Key Support (50-day SMA):** $13.72 ๐ก๏ธ
### **Technical Analysis ๐**
- On **May 8**, LINK rebounded sharply from the **50-day SMA ($13.72)** and completed an **inverse head-and-shoulders pattern** (a bullish reversal signal).
- Sellers are attempting to push the price **below the neckline**, but if **bulls defend this level**, LINK/USDT could **break the resistance line** and rally toward the **pattern target of $21.30** ๐.
### **Key Scenarios ๐**
โ **Bullish Case:**
- If the neckline holds, expect a breakout toward **$21.30** (potential **+30% upside**).
- Sustained buying above $16 could accelerate momentum.
โ **Bearish Risk:**
- If the price reverses sharply and **drops below the moving averages**, LINK may fall to **$12**.
- A breakdown would keep the pair **range-bound within the channel** for longer.
### **Final Thoughts ๐ก**
LINK shows **strong bullish potential** but needs to hold above key support. Watch the **neckline defense** for confirmation of the next big move!
**Stay tuned for updates!** ๐ฅ #Chainlink #LINK #Crypto