LINK Technical Analysis: Rebound To $14.6 Is Possible
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LINK trading volumes during the fall were lower than during the active price growth in 2020-2021. Completion of the global LINK cryptocurrency correction can be in the range of $4. It was in this range that sellers restrained buyers' pressure during the year. It was back in 2019. We believe that this range can stop the strong trend of buyers and complete the global correction of the LINK market. So if you're looking for a place to buy LINK for long-term investment - the $4 range is a great choice. The main question - how exactly will the LINK price get to this range?
Looking at the dynamics of the LINK fall in recent weeks, there is a high probability of a fall with deep price rebounds. For example, now buyers may well realize a price rebound of up to $8.7 in a few weeks. The final target of such a rebound is $14.6. Above this mark, we do not expect the LINK price.
LINK Technical Analysis On The Daily Timeframe
Analyzing the movement of the LINK price on the daily timeframe, you can see the struggle of market participants for the local range of $6. Since 12 May, sellers have made 3 attempts to take control of this mark. The last attempt took place on 13-14 June 2022. The daily candle of 13 June showed that it is not easy for sellers to continue falling. Limit purchase orders were able to slow down the price even after the $6 mark broke.
The daily candle of 14 June shows the readiness of buyers to counterattack. If buyers manage to test the mark of $8 and then keep $6 - can be considered a signal to continue tthe LINK growth to $14.6. If the price falls below $6, forget about investing in LINK until the price hits the $4 mark.
The LINKBTC Price Is Moving To The Mark Of 0.00035
Despite the phenomenal price fall wave, BTC LINKBTC behaved quite decently. This is shown by the weekly LINKBTC. On it, the price did not update the local lows from 9 May and now seeks to reach the target of 0.00035. We talked about this target in our previous analysis. However, the fact of finding the price of LINKBTC in the falling channel, no one has canceled. The probability of starting a new wave of LINKBTC falls from 0.00035 is quite high. Therefore, in case of low trading volumes during the test of the mark 0.00035 it is necessary to prepare for the fall of LINKBTC with the final target 0.00015.