LINKUSD: Should We Expect More Upside Movement? 🥹 | Jan. 13
This week, we will stick to the 4-hour time frame to analyze the price action in detail.
The bulls seem to be in control after another strong week. After a strong rally last week, LINK was able to extend its gains to hit a new swing high of $7.1. We can see some consolidation happening now which was expected after the sharp rally that started earlier this month.
In our previous analysis at CoinMarketCap Alexandria, we had anticipated a move to $7.35 - it was almost achieved earlier this week.
The supply zone at $8.51 will become the new target once the resistance at $7.35 is regained. This view is only valid if the price can sustain itself over $7.35.
It is very important for the price to sustain over $6.30 right now, as a breakdown from this level could lead the price to $5.6.
Traders must still maintain caution by waiting for a reversal from the support at $6.30. If a reversal is seen, then the coming week may be more favorable for the bulls!
The important price levels for this week are $6.5 and $7.35!
The bulls seem to be in control after another strong week. After a strong rally last week, LINK was able to extend its gains to hit a new swing high of $7.1. We can see some consolidation happening now which was expected after the sharp rally that started earlier this month.
In our previous analysis at CoinMarketCap Alexandria, we had anticipated a move to $7.35 - it was almost achieved earlier this week.
The supply zone at $8.51 will become the new target once the resistance at $7.35 is regained. This view is only valid if the price can sustain itself over $7.35.
It is very important for the price to sustain over $6.30 right now, as a breakdown from this level could lead the price to $5.6.
Traders must still maintain caution by waiting for a reversal from the support at $6.30. If a reversal is seen, then the coming week may be more favorable for the bulls!
The important price levels for this week are $6.5 and $7.35!
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