Cryptolean Chainlink LINK Update
After rejecting the key daily resistance zone of $22.10-$23.09, Chainlink found a support at $19.56 that I expect to hold.
A bullish reversal from the current price location or after a re-test of $19.56 will result in a bullish move to re-test $22.10-$23.09.
A bearish break-out of $19.56, the key daily support, will push LINK price towards the next support at $17.40, however the price action will be slow and choppy.
Intraday Chart
The LINKUSDT 4-Hour chart is neutral for now, but it is trying to break into the bullish territory above $21.06.
A break-out of $21.06 will increase a probability of a bullish move to the key intraday resistance zone of $23.48-$24.42, where I will be closely watching the #Chainlink price action.
A bearish rejection of $21.06 will lead to a slow and choppy price action first to $20 and, possibly, lower to the key intraday support at $19.
This bearish dip to $20 or $19 could provide a long trade opportunity.
Support once read!
Thank you!
A bullish reversal from the current price location or after a re-test of $19.56 will result in a bullish move to re-test $22.10-$23.09.
A bearish break-out of $19.56, the key daily support, will push LINK price towards the next support at $17.40, however the price action will be slow and choppy.
Intraday Chart
The LINKUSDT 4-Hour chart is neutral for now, but it is trying to break into the bullish territory above $21.06.
A break-out of $21.06 will increase a probability of a bullish move to the key intraday resistance zone of $23.48-$24.42, where I will be closely watching the #Chainlink price action.
A bearish rejection of $21.06 will lead to a slow and choppy price action first to $20 and, possibly, lower to the key intraday support at $19.
This bearish dip to $20 or $19 could provide a long trade opportunity.
Support once read!
Thank you!
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After rejecting the key daily resistance zone of $22.10-$23.09, due to bearish pressure on Crypto market, Chainlink declined to $17.40, the daily support.
A bullish reversal from the current price location is likely and will result in a bullish move to re-test $19.56.
A bearish break-out of $17.40, the key daily support, will push #LINK price in the bearish territory and will increase probability of a deeper correction towards the next support at $16.24, and, possibly, lower to $13.87-$14.85.
Intraday Chart
The LINKUSDT 4-Hour chart is bearish and teasing the support at $17.90.
A bearish break-out of $17.90 will lead to a quick dip to $15.64-$16.58 support zone, where I will be closely watching the #Chainlink price action, as the bullish rejection of this zone is possible.
A bullish reversal from $17.90 will lead to a re-test of $19 followed by a bearish rejection towards $15.64-$16.58.