$LINK / USDT – Minor Pullback After a Strong Rally – Finding Support for the Next Leg? 🔗📊

$LINK / USDT is currently trading at $14.37, experiencing a slight pullback of -3.75% today. The 4-hour chart on Binance shows a robust upward trend followed by a minor retracement, suggesting the market might be consolidating before another potential move.

🧐 Key Observations and Levels:

* Recent High Resistance: The recent peak around $15.28 represents a significant resistance level that the price tested.

* Potential Support Zone: The area around $14.15 appears to be acting as immediate support, aligning with the 24-hour low. Further support could be found near $14.00.

* Healthy Uptrend: Despite the current pullback, the overall trend on the 4-hour chart remains bullish, characterized by higher highs and higher lows.

🤔 Potential Scenarios to Watch:

* Support Hold and Rebound: If the price finds strong support around the $14.15 - $14.00 zone and shows signs of bullish reversal, a retest of the $15.00 and potentially the $15.28 resistance levels could be anticipated.

* Breakdown Risk: A failure to hold the $14.00 support could lead to a deeper correction, potentially towards the $13.50 level.

* Consolidation Phase: The price might consolidate within the $14.00 - $14.50 range in the short term before a clear direction emerges.

📈 Potential Long Entry (On Support Confirmation): Consider a long entry if the price shows clear signs of holding the $14.15 - $14.00 support area with bullish candlestick patterns or increasing volume, targeting the previous highs. A stop-loss could be placed below the support zone.

📉 Potential Short Entry (On Breakdown): A decisive break below the $14.00 support level with increasing volume might present a short entry opportunity, targeting lower support levels. A stop-loss could be placed above the breakdown point.

LINKUSDT · Binance

14.37 +0.04 (+0.28%) (based on the last 4 hours)

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