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Phemex Analysis #52: How to Trade LINK like a ProIn the world of cryptocurrencies, every token has a story, and Chainlink ( PHEMEX:LINKUSDT.P ) is no exception. Since its launch in 2017, LINK has established itself as a leader in decentralized oracles, bridging the gap between blockchain technology and real-world data. But what truly captivates traders is LINK’s price journey—a rollercoaster ride filled with opportunities and challenges. If you’ve been following our analysis, you might recall our deep dive into Cardano (ADA) last week. ADA had its own impressive run during the November 2024 bull market, but this week, we shift our focus to LINK. Like ADA, LINK also experienced a massive surge during the bull run, climbing from $10.245 on November 5th to an impressive $30.954 by December 13th—a staggering 302% rally that left investors euphoric. However, the tide turned, and LINK tumbled to $17.804, a 42% drop from its peak. Now, with the price hovering in this range, the question on everyone’s mind is: What’s next for LINK? Is it time to buy the dip, or should traders prepare for more turbulence? Let’s explore three possible scenarios for LINK’s price movement and uncover some Pro Tips along the way. Scenario 1: Continued Bearish Momentum Picture this: The crypto market remains under pressure, weighed down by bearish sentiment. LINK struggles to reclaim higher levels and forms a lower high—failing to break above $24.79 in the coming days. Then, the unthinkable happens: LINK breaks below its crucial $17.5 support level with heavy selling volume. The price plunges further, testing key support zones at $16.1, $13, or even as low as $10.2. For traders, this scenario might feel like walking through a storm, but opportunities often hide in chaos. Pro Tips: •If you’re daring and willing to take on higher risk, consider entering at $16.1 for potential upside—but be prepared for more downside. •For those seeking balance between risk and reward, $13 might be your sweet spot. •If you’re cautious and prefer minimizing risk, wait for $10.2—a level that offers a safer entry point but comes with the risk of missing out if the dip doesn’t go that deep. •Want to play it smart? Use scaled orders to spread your entries between $16 and $13 (medium-high risk) or $13 and $10.2 (medium-low risk). Scenario 2: A Period of Calm—Consolidation After months of wild swings—first the November bull run and then January’s sharp drop—LINK might finally catch its breath. Imagine the price settling into a quiet rhythm, moving sideways with little fanfare. In this scenario, LINK forms a lower high (below $24.79) but drifts slowly toward the $17.5 support level with low trading volume. For seasoned traders, this could be an opportunity to profit from the calm before the storm. Pro Tips: •Deploy grid trading bots to capitalize on small price fluctuations during this consolidation phase. •If you expect prices to rebound from support levels, start long grid bots near $17.5. •If you believe prices will struggle near resistance levels, start short grid bots near $24.79. This period of consolidation may not be thrilling, but it offers a chance for traders to sharpen their skills and prepare for what’s next. Scenario 3: The Bullish Breakout Now imagine a scenario where LINK starts showing signs of life—a bullish breakout that reignites hope among traders. If this breakout happens in the next few days, it’s likely to be a quick pump-and-dump rally—a short-lived rise that fizzles out almost as quickly as it began. However, if the breakout occurs after a period of consolidation, it could signal something more meaningful: a sustained upward trend. The key lies in timing and volume. A breakout above $24.79 with high trading volume would be the first signal that LINK is ready to climb higher. From there, traders can look toward resistance levels at $26 and $30.4 as potential profit-taking zones. Pro Tips: •If the breakout occurs after consolidation, it’s more likely to be sustained—watch for high volume as confirmation. •Consider going long once LINK breaks above $24.79 and aim for profit targets around $26 and $30.4. •Stay cautious if the breakout happens too quickly without consolidation—it could be a short-term pump with limited follow-through. This scenario is all about patience and precision. Waiting for consolidation before entering can help traders avoid false breakouts and position themselves for a potentially rewarding move upward. Conclusion Trading LINK isn’t just about numbers; it’s about understanding its narrative within the broader market context—and learning from similar tokens like ADA can provide valuable insight into how markets behave under similar conditions. Whether it’s navigating bearish waters like Scenario 1, profiting during periods of calm consolidation like Scenario 2, or riding bullish waves like Scenario 3—each scenario offers unique opportunities for those who are prepared. As you chart your course with LINK (and keep an eye on ADA), remember that every trade tells a story—and yours can be one of success if you stay disciplined, manage your risks wisely, and adapt to changing market conditions. So gear up and trade LINK like a pro—because every great trader knows that fortune favors the bold but rewards the prepared! Final Tips: Take your trading to the next level with Coin-M perpetual contracts, where you can use your ADA or LINK as collateral to trade and accumulate more tokens along the way. Phemex will list Coin-M perpetual contracts for ADA, LINK, AVAX, and SUI on January 16th. Don’t miss it—check it out! Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Long to ATH ChainlinkI am strategically investing in Chainlink, a prominent decentralized oracle network, with a long-term perspective. By acquiring and holding Chainlink (LINK), I am positioning myself to capitalize on its potential to reach new all-time highs. This approach is rooted in the belief that Chainlink's technology plays a critical role in bridging blockchain with real-world data, a feature increasingly essential for smart contracts and decentralized finance (DeFi) applications. My investment strategy reflects confidence in the continued adoption and innovation within the blockchain space, anticipating that Chainlink's value will rise as the market recognizes its integral role in the ecosystem.
Long
by CiaranShorttFX
TradeCityPro | LINK: Key Support and Resistance Analysis👋 Welcome to TradeCity Pro! In this analysis, I will review the LINK token. Chainlink is one of the notable Web3 projects in crypto and ranks 14th in terms of Total Value Locked (TVL). ⏳ 4-Hour Timeframe: Break Below the Range? In this timeframe, after the price reached the ceiling at $30.51, lower highs were recorded, and the price repeatedly tested the $19.98 support. Currently, the price has managed to close below this level on the 4-hour timeframe. 🔍 If the price establishes a lower high and a lower low below $19.98, it will confirm a trend reversal for this token. In this scenario, the price could potentially drop to $16.35. Breaking below 24.87 on RSI and continuing the increasing bearish volume could result in a sharp decline to the $16.35 zone. If this level is broken, the next support will be at $14.08. 📰 The current decline was primarily triggered by positive news for the US dollar a few days ago, which significantly impacted the market, leading to notable drops in many altcoins. If we consider this news to have only a short-term effect, there is a possibility that altcoins might fake out their support levels. Therefore, it’s advisable to identify a long trigger as well. 📈 If the $19.98 support proves to be a fakeout, a position could be opened based on the structure formed in lower timeframes. For the main long trigger, the first level to watch is a break above $25.45, which is the initial trigger. The next trigger is $30.51, the current ceiling of this trend. 📝 Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Long
by tradecitypro
9
LINK Approaches Key Inflection Point within Symmetrical TriangleThe recent news highlights that Ripple is expanding RLUSD adoption by integrating Chainlink's price feeds, further enhancing the utility of stablecoins. This development could contribute to increased market interest in Chainlink (LINK). At present, LINK has reached a critical support and high-demand zone between $20.50–$21.50, where buyers have historically stepped in. For those considering a short position, exercise extreme caution, as this zone is a strong support level. Place your stop loss very close to minimize risk, as a reversal or breakout could invalidate the trade quickly. For those looking to go long, it is prudent to wait for a confirmed breakout above $23.00 to ensure the upward momentum is backed by volume and market strength. The market is currently volatile and uncertain, so trade cautiously, ensuring proper risk management and patience for clear technical signals before committing to any position.
Long
by hesham07
Chainlink: A New Opportunity with Reversal Trend📈 Chainlink has recently formed a "Head and Shoulders" pattern, but it hasn't played out as expected. It appears to be a liquidity grab, with the market moving in the opposite direction. This reversal could present a great entry point to capitalize on the upcoming bullish trend! 🌟 📌 Entry Point: $24 📉 Stop Loss: $19.5 🎯 Target Profit: $40 🔍 Based on current analysis, these levels suggest a strong short-term bullish move. Given the market dynamics and the reversal after the failed pattern, you can enter this opportunity with more confidence. 🚀
Long
by arzdigitalistha
linkusdt buy"🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
Long
by Golden_candle
$LINK (1D) Shorts?CRYPTOCAP:LINK (1D) – Potential Scenario Considering Correlation with BTC There is an area of interest for CRYPTOCAP:LINK at $23.62–$24 (FVG), from which the price could theoretically start a decline. This area should only be considered if there’s a clear reversal setup and confirmed correlation with BTC. For me, the priority remains waiting for the $26 zone to open a more precise short position. Key Points: • We have already taken out PDH and PWH, which could indicate a potential reversal from the $23.62–$24 zone. • The $23.62–$24 (FVG) is a potential zone for shorts, but only if a confirmed reversal setup appears. • For BTC, I expect a correction to the $102,975 zone, so CRYPTOCAP:LINK ’s behavior will directly depend on BTC’s dynamics. My Plan: I am closely monitoring the development of the situation in the $23.62–$24 zone. If a clear reversal setup appears there, confirmed by BTC’s movement, I will consider opening short positions. At the same time, the $26 zone remains a higher-priority level for a more confident short entry.
by Drob9
2