Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Crypto analyst CryptoWzrd, in a recent Chainlink daily technical outlook, noted that the candle closed slightly bearish, but the overall structure remains constructive and pushes toward the key $16.00 resistance, where momentum could shift quickly. According to the analyst, a retest of the $13.50 support or a break above the $15.20 resistance will be the critical trigger for the next major trade setup.
Indecisive Daily Close Sets the Stage For A Critical Trendline Test
CryptoWzrd noted that both LINK and LINKBTC closed the daily candle in an indecisive manner, reflecting uncertainty in the short-term market direction. Despite this hesitation, the broader structure remains intact, and price action is approaching a technically significant point that will play a crucial role in determining the next major move for Chainlink.
According to the analyst, LINKBTC is now testing its daily lower-high trendline. A series of bullish candles emerging from this zone would be a strong signal that buyers are re-entering the market. If this momentum builds, it is likely to spill over into Chainlink, potentially triggering an impulsive rally.
Should bullish confirmation appear, LINK could drive toward the $16 resistance level, a region that has been tested multiple times in the past. A clean breakout above $16 would open the door for a swift extension toward the next major hurdle for the bulls $20 resistance, marking a significant continuation of upward momentum.
On the downside, CryptoWzrd emphasized that the $12 level stands as the primary support. A daily close below this level would weaken the bullish structure and could signal a deeper correction. Until then, the trendline test remains a critical focal point where LINK’s uptrend will continue or reverse.
ChainLink Choppy Intraday Movement Signals Caution
Conclusively, the analyst highlighted that the intraday chart was characterized by being somewhat choppy and trading within a very tight, small range. This consolidation phase often precedes a significant directional move, but it has made short-term trading decisions challenging without a clear trigger.
The analyst defined a specific setup to watch for: a bearish pullback towards the $13.50 support level, followed by a decisive bullish reversal, would serve as the ideal trigger for a long position. Such a trade would initially target the $15.20 resistance and potentially move toward higher levels thereafter.
By confirming immediate strategic focus, the analyst stated that his attention “tomorrow will remain on the lower time frame chart development” to scout the next optimal scalp opportunity. This indicates a short-term, opportunistic trading mindset by waiting for the confined range to break or for the identified mean-reversion setup at $13.50 to play out.
