After breaking long term resistance (Red Line), LINK/USD experienced a quick uptick in price. Since, LINK has cooled off a bit but has established an uptrend channel (Parallel Black Lines). Price fell heavily today and tested two resistance lines. The first line tested was the major long term resistance (Neon Green Line) starting at June 4th and the second was the bottom of the uptrend channel. Both supports held as the candle on the 4h chart closed above both lines.
Look for price to trade within this range for a while and buy dips at the bottom of the channel. Major news at the Web3 Summit could spark price to spike above this channel which can then act as support. I will try to update daily.
*This is not financial advice. I am not responsible for losses on money.*
Look for price to trade within this range for a while and buy dips at the bottom of the channel. Major news at the Web3 Summit could spark price to spike above this channel which can then act as support. I will try to update daily.
*This is not financial advice. I am not responsible for losses on money.*