Current Price: $24.81
Support Level: $23.86
Resistance Level: $30.90
Key Levels:
- Stop Loss (SL): $23.86
- Take Profit 1 (TP1): $27.80
- Take Profit 2 (TP2): $30.90
- Risk-Reward (RR): 6.8
Analysis:
- Bullish Flag & Pennant Breakout: The chart shows a breakout from a bullish flag/pennant pattern, suggesting strong upward momentum.
- Above 21-Day EMA: LINK is trading above the 21-day exponential moving average, indicating a bullish trend.
- RSI: The RSI is at a healthy 55.57, signaling no overbought condition yet, and leaving room for further upward movement.
- Volume: A surge in volume during the breakout confirms market interest in this upward move.
Trade Setup:
- Entry: Once price holds above the support level at $24.80, a continuation towards TP1 ($27.80) and TP2 ($30.90) is expected.
- SL: A stop loss at $23.86 to manage risk.
Disclaimer:
This is not financial advice. Please conduct your own research before making any trades. All trades involve risk, and past performance is not indicative of future results.
Trade closed: stop reached
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.