Around two weeks ago I made an analysis on LINK. Here I stated that LINK was still trading in a long-term bullish channel and that we might soon expect a reversal.
The price broke out of the lower support for a week, which caught me off guard since I expected the line to hold. In the end, BTC wanted to go lower. Naturally, LINK followed.
The current outlook for LINK looks much better than before. The price has moved back into the channel, potentially signaling a new bullish move in the near future.
I'm looking at the $20 support at the moment. A weekly candle close above $20 would be indicative for a new bull trend for me. Long term target would be the current all time high, based at $53.
Happy trading!
The price broke out of the lower support for a week, which caught me off guard since I expected the line to hold. In the end, BTC wanted to go lower. Naturally, LINK followed.
The current outlook for LINK looks much better than before. The price has moved back into the channel, potentially signaling a new bullish move in the near future.
I'm looking at the $20 support at the moment. A weekly candle close above $20 would be indicative for a new bull trend for me. Long term target would be the current all time high, based at $53.
Happy trading!
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