LINK Technical Structure
Chart Pattern
The current candlestick is within a typical converging triangle (symmetrical triangle) range.
There is a long-term downtrend line capping above (drawn from the historical high), and a gradually rising support line below.
The price has currently touched the upper band, with signs of a breakout.
Price Range
Resistance Zone: 26 – 30 range (breakout point).
Support Zone: 18 – 20 range (upward-trending support).
Once the breakout is confirmed, the target may look towards the historical resistance zone of 50 – 70 area.
Volume
From the chart, it can be seen that the recent trading volume has increased, which is a positive signal before the breakout.
If the breakout is accompanied by increased volume, its validity is stronger.
Indicator (Stoch RSI)
Currently in the overbought zone (95+), there may be short-term pullbacks or fluctuations.
However, in the weekly level pattern, being overbought does not necessarily mean a reversal; it may maintain at high levels for some time.
🔮 Possible Trend Projection
Bullish breakout of 26–30 resistance zone → Pullback confirmation → Expected to initiate a new upward phase, target 50+, or even challenge previous highs.
⚖️ Trading Strategy (Not Investment Advice, Just Technical Analysis)
Conservatives: Wait for a breakout above 30 and stabilization before considering following up, to avoid false breakouts.
Aggressives: Position with a small amount now, set a stop-loss if it falls below 20.
Target Levels: First target 35 – 40, second target 50+.
Strategy is laid out, follow-up with a thumbs up!
