SasanSeifi| Potential Correction or Breakout Ahead?
Updated
In the long-term chart analysis of 
LINKUSDT, we observe that the price has entered a corrective phase from the $22 price range. This correction continued following a positive reaction to a major demand level at $7.50, leading to a period of price consolidation within this area. As shown on the chart, after renewed fluctuations, the price faced resistance at a key supply level and the long-term descending trend line, resulting in a bearish reaction.
If we observe a sell confirmation in these price zones from lower timeframes and a break below the $10 level with price stabilization beneath it, LINK may correct further towards demand zones at $7.50 and $5. To better understand the ongoing movement, it is crucial to observe how the price reacts to these support levels, as they could serve as pivotal points.
Key resistance levels for LINK are positioned between $12.50 and $13. Alternatively, we can consider a bullish scenario. For this to unfold, the price would need to break through the critical supply level. If it consolidates above this level, LINK could move towards targets of $15 and further upwards to $17 and $20.
💢This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
LINKUSDT, we observe that the price has entered a corrective phase from the $22 price range. This correction continued following a positive reaction to a major demand level at $7.50, leading to a period of price consolidation within this area. As shown on the chart, after renewed fluctuations, the price faced resistance at a key supply level and the long-term descending trend line, resulting in a bearish reaction.If we observe a sell confirmation in these price zones from lower timeframes and a break below the $10 level with price stabilization beneath it, LINK may correct further towards demand zones at $7.50 and $5. To better understand the ongoing movement, it is crucial to observe how the price reacts to these support levels, as they could serve as pivotal points.
Key resistance levels for LINK are positioned between $12.50 and $13. Alternatively, we can consider a bullish scenario. For this to unfold, the price would need to break through the critical supply level. If it consolidates above this level, LINK could move towards targets of $15 and further upwards to $17 and $20.
💢This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
Trade active
In the long-term chart analysis of the cryptocurrency (LINK), it can be observed that the price has moved from the $22 range into a corrective phase. This correction followed a positive reaction to a significant demand level at $7.50, and as a result, the price spent some time ranging in this area. As indicated on the chart, after further fluctuations, the price showed a negative reaction to a key supply level and the long-term downward trendline.
In the last analysis, it was noted that if a sell confirmation was observed in these price zones (from lower timeframes) and the $10 level was broken and sustained below it, the price could potentially correct again towards the demand zones at $7.50 and $5. On the other hand, another scenario considered was a bullish one, where a break above the key supply level and a sustained move above this level could lead to a rise toward target levels of $15, $17, and $20.
As we can see, after a slight correction, the price encountered demand and, following a break of the downward trendline, has risen to $13. Currently, if the price sustains above the $12.50 and $13 levels, there is a potential for further growth towards the target zones at $15, $17, and $20.
Trade closed: target reached
LINK has grown by 24% to the $15 target according to the outlined scenario and is continuing to move as expected.
after that As I mentioned in the last update, the previous analysis is still valid, and the potential for growth from this price range should be considered.
As you can see, the price followed the expected scenario, rising 41% from $13.50 and is now heading towards the $20 range.
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🌎Website (Persian): FiboTech.Trade
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