$LINK GRINDING UP FROM SUPPORT – BREAKOUT BREWING OR DEAD CAT BOUNCE?
$LINK is currently trading at $15.24, down -3.12%, after sliding from a 24h high of $16.40. Buyers are attempting a recovery off the $15.00 support zone, but price remains trapped beneath immediate resistance.
Key Levels to Watch:
• Resistance Zone: $15.30 – $15.50
A breakout here may open up a short-term bullish move.
• Support Zone: $15.00 – $15.10
A break below this zone would likely invite further downside pressure.
Trade Setup – Tight Range Signals Decision Point:
Bullish Scenario:
If LINK breaks above $15.30 with volume support, look for targets at:
• TP1: $15.50
• TP2: $15.80
Bearish Scenario:
Failure to hold $15.00 could lead to a pullback toward:
• TP1: $14.80
• TP2: $14.40
Stop-Loss Placement:
• Long Entry: SL below $15.00
• Short Entry: SL above $15.50
$LINK is showing signs of stabilization. A clean breakout above $15.30 could fuel momentum toward $15.80. However, failure to defend $15.00 risks a deeper decline. Wait for confirmation before committing to either side.