Lokesh Gupta
24-05-2024
$LINK's price surged above $16.50, signaling bullish momentum, with potential for further gains upon surpassing the $18.00 resistance.
On the daily chart, #ChainLink is trading above the Ichimoku Indicator, suggesting bullish sentiment.
Breaking out of the descending triangle pattern a few days ago, as observed on the daily chart, indicates a bullish trend reversal.
After finding support from the trendline, $LINK's price surged, marking a 36% increase over 10 days.
Currently, a Marubozu candle is forming on the daily chart, indicating strong bullish momentum.
According to Coingabbar analysis, If bulls manage to breach the $18 resistance, LINK's price may target $20 in the subsequent weeks, provided market conditions remain supportive.
Conversely, a trend reversal could lead to a test of the $16 support level, with further downside potential to $15 this month in case of continued bear dominance.
KEY LEVELS :
RESISTANCE LEVEL : $18.500-$21.000
SUPPORT LEVEL : $15.500-$13.000
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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