LINK Testing Critical Resistance, Surge to $16.50 Coming?
One the 1D LINKUSDT chart, LINK marines are currently retesting the psychological $13 level (blue bar) for the 9th time since November 7.
As we can see, the asset has been tracking inside a rising channel (blue channel) for a few months now and is consistently printing higher lows. We can also see the Fibonacci levels have been getting clear reactions (red boxes), particularly as support regions.
There are 3 main resistance areas to observe if bulls manage to close above $13:
PT1: $13.69 - the 0.5 Fibonacci level.
PT2: $15.21 - the 0.618 Fibonacci level.
PT3: $16.50 - Key daily resistance.
If the breakout is unsuccessful, however, then the following support levels will likely be around:
S1: $12.17 - the 0.382 Fibonacci level.
S2: $11.77 - key S/R level.
S3: $10.29 - 0.236 Fibonacci level.
As we can see, the asset has been tracking inside a rising channel (blue channel) for a few months now and is consistently printing higher lows. We can also see the Fibonacci levels have been getting clear reactions (red boxes), particularly as support regions.
There are 3 main resistance areas to observe if bulls manage to close above $13:
PT1: $13.69 - the 0.5 Fibonacci level.
PT2: $15.21 - the 0.618 Fibonacci level.
PT3: $16.50 - Key daily resistance.
If the breakout is unsuccessful, however, then the following support levels will likely be around:
S1: $12.17 - the 0.382 Fibonacci level.
S2: $11.77 - key S/R level.
S3: $10.29 - 0.236 Fibonacci level.
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.