LINK/USDT is in a recovery and consolidation phase after a sharp decline, currently testing the upper boundary of its range with increasing bullish pressure. Following a significant drop around October 9th-11th, the price has been in a horizontal channel, showing higher lows since the $14.75 low. It is now challenging the major ceiling around $19.08, signaling buyer control.
Support Levels:
- Immediate Support: $18.194 - Must hold to maintain momentum; break risks testing $16.711.
- Major Support: $16.711 - Strong consolidation floor; critical to defend to avoid deeper retracement.
Resistance Levels:
- Primary Resistance: $19.083 - Break and close above needed to exit consolidation.
- Major Target 1: $20.139 - First hurdle after breaking $19.083.
- Major Target 2: $21.149 - Final resistance before price drop.
Bullish Scenario: A breakout above $19.083 would confirm a new trend with targets at $20.139 and $21.149.
Neutral/Bearish Scenario: Failure to break $19.083 may lead to a return to the $18.194 support, with a drop below $16.711 indicating strong weakness.
Support Levels:
- Immediate Support: $18.194 - Must hold to maintain momentum; break risks testing $16.711.
- Major Support: $16.711 - Strong consolidation floor; critical to defend to avoid deeper retracement.
Resistance Levels:
- Primary Resistance: $19.083 - Break and close above needed to exit consolidation.
- Major Target 1: $20.139 - First hurdle after breaking $19.083.
- Major Target 2: $21.149 - Final resistance before price drop.
Bullish Scenario: A breakout above $19.083 would confirm a new trend with targets at $20.139 and $21.149.
Neutral/Bearish Scenario: Failure to break $19.083 may lead to a return to the $18.194 support, with a drop below $16.711 indicating strong weakness.
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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.