๐บ Trend & Market Structure
LINK is currently in a bullish uptrend, forming higher highs and higher lows within an ascending price channel (outlined by black trendlines).
The latest bounce came from around $14.83, aligning with the channelโs lower boundary.
๐ Key Levels
๐ฉ Resistance:
$18.98 โ Recent local high
$21.16 โ Major resistance; likely target if $19 breaks
$18.27 โ Active resistance being tested
$17.62 โ Mid-range resistance
๐ฅ Support:
$15.97 โ First local support
$14.83 โ Key support level (bounced here recently)
$13.30โ$13.50 โ Strong demand zone
$12.50 โ Long-term historical support
๐ Technical Indicators
๐ Stochastic RSI:)%K and %D lines are crossing upward from oversold territory โ bullish signal
Indicates potential price continuation upward
๐ MACD:
Histogram still declining, but the downtrend is slowing
A bullish crossover may occur soon if momentum builds
๐ Volume:
Volume spikes during upward moves confirm strength
Recent low volume suggests either consolidation or an upcoming move
๐ Bullish Scenario:
Price holds the uptrend and breaks above $18.27 and $18.98
Could rally toward $21.16
Confirmed by MACD or Stoch RSI crossover
๐ Bearish Scenario:
Drop below $15.97 and the trendline could lead to $14.83, then possibly $13.30
Weak MACD may support this move if buyers fail to step
๐ง Summary:
Overall Trend: Bullish
Currently testing $18.27 resistance
Key supports to watch: $15.97 and $14.83
Indicators suggest a poten
tial upward continuation, but confirmation on volume or higher timeframes is essential
