Chainlink is currently trading at $24.9, right below a major resistance zone around $27.3. The price has been moving within a long-term ascending channel since mid-2022, and right now it’s at a decisive point.
🔹 Scenario 1 (More Probable – Bearish Rejection)
If LINK fails to break $27.3, we could see a rejection that triggers a correction towards the lower boundary of the ascending channel, around $15–17 (SC1). This aligns with the overextended move and prior rejection patterns.
🔹 Scenario 2 (Bullish Breakout)
A successful breakout above $27.3 with strong volume could fuel a rally toward the channel top, targeting the $45–52 zone (SC2).
📊 Technical Notes:
• Current resistance: $27.3 (critical decision point).
• Support levels: $18–19, then $15–17 (channel support).
• Next resistance above $27.3: $34, then $45–52.
• Structure: Ascending channel since mid-2022.
✅ Conclusion
While both scenarios are valid, the bearish rejection (Scenario 1) seems more likely unless LINK breaks $27.3 with conviction. Traders should watch for rejection signals at current levels before committing.
🔹 Scenario 1 (More Probable – Bearish Rejection)
If LINK fails to break $27.3, we could see a rejection that triggers a correction towards the lower boundary of the ascending channel, around $15–17 (SC1). This aligns with the overextended move and prior rejection patterns.
🔹 Scenario 2 (Bullish Breakout)
A successful breakout above $27.3 with strong volume could fuel a rally toward the channel top, targeting the $45–52 zone (SC2).
📊 Technical Notes:
• Current resistance: $27.3 (critical decision point).
• Support levels: $18–19, then $15–17 (channel support).
• Next resistance above $27.3: $34, then $45–52.
• Structure: Ascending channel since mid-2022.
✅ Conclusion
While both scenarios are valid, the bearish rejection (Scenario 1) seems more likely unless LINK breaks $27.3 with conviction. Traders should watch for rejection signals at current levels before committing.
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🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
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Disclaimer
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📊 CryptoPilot – Advanced Technical Analysis for BTC & Altcoins
🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
📥 Telegram Chanell : @CryptoPilot_Trading
🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
📥 Telegram Chanell : @CryptoPilot_Trading
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.