LINK / USDT — Detailed analysis of candle movement
Displayed timeframe: Daily chart
Notes on candle behavior
Continuation of the upward trend strongly:
After LINK touched the low at 15.43 on August 3, it began printing consecutive bullish candles with increasing trading volumes — a classic pattern of whale accumulation followed by a price breakout.
The large-bodied green candles between August 7-9 reflect strong buying pressure (supported by increased volume), suggesting that the movement is driven by big money and not just individual trades.
Current movement (August 10):
Yesterday's high: 22.70 USDT, and today we see a smaller candle with a small body and upper shadow — an indication of some profit taking without a full reversal.
The price is currently approaching the EMA 9-10 moving average (the yellow line), which often acts as dynamic support in strong trends.
Volume reading:
The bullish candles were accompanied by above-average trading volumes, while the current candle has a lower trading volume — suggesting that selling pressure is weak.
Educational note for followers
Small-bodied candles after a strong trend may indicate consolidation before a new surge.
The long upper shadows at this stage mean that sellers tried to push down but buyers resisted them — the important thing is to monitor the daily close.
Bouncing from the EMA in strong trends often forms buying opportunities during small corrections.
Proposed trading plan for LINK
Expected trend: Continuation upwards if support holds.
Entry area:
Gradual entry between 21.00 – 21.40 USDT (near the EMA support).
For quick traders: Enter upon the appearance of a bullish engulfing candle on the 4-hour timeframe near this area.
Stop loss:
Below 20.50 USDT (below the last low and under EMA areas).
Profit taking targets:
Target 1: 22.70 USDT (current high)
Target 2: 24.00 USDT (psychological resistance)
Target 3: 25.50 USDT (expected target from the breakout pattern).
Risk management:
Risk does not exceed 2% of capital.
Divide exit on targets to protect profits.
