Chainlink just posted a clean reaction off the 0.5 Fibonacci retracement (16.76), reclaiming trend structure after a sharp pullback.
The last time LINK bounced from this zone, it ripped straight through resistance. Now we’ve got:
Strong support reaction off the 0.5 Fib
Higher low forming inside structure
Stoch RSI resetting from oversold
Clear measured move potential toward $21.00
This setup gives a defined invalidation zone just below 16.50, with upside targeting the previous high and beyond.
🔍 Key Levels:
Support zone: 16.76–15.93
Target 1: 19.50
Target 2: 21.08
Invalid if we lose 15.80 with momentum breakdown
The last time LINK bounced from this zone, it ripped straight through resistance. Now we’ve got:
Strong support reaction off the 0.5 Fib
Higher low forming inside structure
Stoch RSI resetting from oversold
Clear measured move potential toward $21.00
This setup gives a defined invalidation zone just below 16.50, with upside targeting the previous high and beyond.
🔍 Key Levels:
Support zone: 16.76–15.93
Target 1: 19.50
Target 2: 21.08
Invalid if we lose 15.80 with momentum breakdown
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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.
Try our strategy optimizer at quanttradingpro.com
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
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.