The chart shows a clear bullish market structure supported by a rising uptrend line from the recent swing low. Price is currently consolidating inside a descending triangle / bullish continuation wedge, which typically forms before a breakout in trending markets.
Market Structure
The overall trend remains bullish as long as price holds above the ascending trendline.
Price is compressing between:
Descending resistance (upper black trendline)
Rising support from the broader uptrend.
This tightening price action indicates accumulation before expansion.
Key Levels
Entry Point: $9.15
A confirmed breakout above the descending resistance would signal momentum continuation.
Target 1 (T1): $9.65
This level represents the next major horizontal resistance and the projected move from the triangle breakout.
Major Support Zone: $8.67 – $8.70
Previously acted as resistance and is now flipped to demand/support.
Bullish Scenario
If LINK breaks and holds above $9.15 with strong volume:
Momentum traders may push price toward $9.65.
A clean break above $9.65 could open the path toward the $10 psychological level.
Bearish Scenario
Failure to break the triangle and a drop below the pattern support could lead to:
Retest of the $8.70 demand zone.
Losing this level would weaken the bullish structure and invalidate the current setup.
Trading Perspective
Bias: Bullish continuation
Best Strategy: Trade the breakout confirmation above $9.15 rather than anticipating it.
Risk Management: Stop below the triangle support or below $8.85 depending on risk tolerance.
✅ Conclusion:
LINK is in a bullish consolidation within an uptrend. A breakout above $9.15 is likely to trigger momentum toward $9.65, aligning with the continuation pattern forming on the 1-hour timeframe.
Market Structure
The overall trend remains bullish as long as price holds above the ascending trendline.
Price is compressing between:
Descending resistance (upper black trendline)
Rising support from the broader uptrend.
This tightening price action indicates accumulation before expansion.
Key Levels
Entry Point: $9.15
A confirmed breakout above the descending resistance would signal momentum continuation.
Target 1 (T1): $9.65
This level represents the next major horizontal resistance and the projected move from the triangle breakout.
Major Support Zone: $8.67 – $8.70
Previously acted as resistance and is now flipped to demand/support.
Bullish Scenario
If LINK breaks and holds above $9.15 with strong volume:
Momentum traders may push price toward $9.65.
A clean break above $9.65 could open the path toward the $10 psychological level.
Bearish Scenario
Failure to break the triangle and a drop below the pattern support could lead to:
Retest of the $8.70 demand zone.
Losing this level would weaken the bullish structure and invalidate the current setup.
Trading Perspective
Bias: Bullish continuation
Best Strategy: Trade the breakout confirmation above $9.15 rather than anticipating it.
Risk Management: Stop below the triangle support or below $8.85 depending on risk tolerance.
✅ Conclusion:
LINK is in a bullish consolidation within an uptrend. A breakout above $9.15 is likely to trigger momentum toward $9.65, aligning with the continuation pattern forming on the 1-hour timeframe.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.