Chainlink (LINK) Shows Bullish Signals With Potential to Break Above $42 If $20 Resistance Is Reclaimed
Main Idea
Chainlink (LINK) is showing bullish signals with potential to break above $42, supported by Fibonacci levels, double-bottom formations, and rising trendlines.
Key Points
1. Chainlink (LINK) is trading above the 0.618 Fibonacci retracement level, indicating bullish momentum.
2. A double-bottom breakout above $15.39 suggests a continuation toward the $31 resistance level.
3. Weekly analysis shows LINK breaking out from an accumulation zone between $5 and $9.50, with potential to push past $20.
4. Key resistance levels are identified at $20.186, $26.500, and $30.244, with a potential breakout target of $44.861.
5. Support levels to watch include $15.089 and $12.299, with a breakdown below $10.025 risking a drop toward $7.78.
Description
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