TradeCityPro | LINK : Volume Surge and Key Levels

11月28日

👋 Welcome to TradeCityPro!
In this analysis, I will review LINK. This coin operates in the DeFi space, aiming to facilitate cross-chain functionality in the crypto ecosystem.

⏳ Weekly Timeframe: Higher Low After Box Breakout
In the weekly timeframe, after breaking the 9.81 resistance, LINK experienced a notable price increase, climbing to 21.6 before entering a correction phase.

🧲 The first correction phase retraced to the 0.382 Fibonacci level. Subsequently, after breaking this level and the 12.21 support, the correction extended to the 0.618 Fibonacci level, which coincided with the 9.81 support and the SMA99, creating a PRZ (Potential Reversal Zone) that halted the price decline.

⚡️ Currently, following increased volume and a break above the 57.72 level in the RSI, as well as the 12.21 resistance, the next bullish leg has begun. The primary target for this move is the critical 21.6 resistance, which marked the end of the first bullish leg. Whether this level can be breached remains to be seen.

🔼 If the resistance is broken and the uptrend continues, the long-term targets are 33.93 and 52.13. In case of a market downturn, key supports are 12.21 and 9.81. Should these supports break, the final stronghold will be at 5.55. A breach of the 37.49 RSI support could introduce intense bearish momentum.



⏳ Daily Timeframe: Noticeable Volume Increase
In the daily timeframe, there was a ranging box between 9.53 and 12.36, which broke to the upside, initiating an uptrend. The standout feature here is the sharp increase in candle volume post-breakout, which continues to rise steadily.

📊 If the volume continues to grow, the price could easily break the 18.73 resistance and test the main ceiling at 21.6. However, if the volume starts to decline, given the divergence and significant distance from the SMA99, the price may begin to correct or consolidate. In this scenario, the key correction supports are 15.33 and 12.36.

🧩 If the RSI breaches the 53.8 support, divergence will be activated, erasing the market’s bullish momentum. Conversely, breaking the 73.38 RSI level could signal a price surge, potentially breaking the 21.6 level.



⏳ 4-Hour Timeframe: Futures Triggers
In the 4-hour timeframe, we see a steep ascending trendline. The price briefly faked out below this trendline but resumed its upward movement.

✨ In the latest leg of the uptrend, after breaking the 15.33 resistance, volume has started to decline, signaling potential exhaustion. Additionally, there is a strong divergence in the RSI. The divergence trigger lies at 44.67, and if activated, the bullish momentum will dissipate.

🔽 Breaking the trendline, the 16.47 level serves as the first short trigger. However, personally, I avoid opening positions based on this trigger since it goes against the primary trend. Instead, I wait for a confirmed trend reversal using Dow Theory principles.

✅ In case of a decline, the next support levels and targets are 15.33 and 12.36.

📈 For long positions, the 18.73 resistance offers an excellent trigger. The first target for this move is 21.6.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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