Chainlink Maintains Its Base, But One Push Could Flip Sentiment Fast

Chainlink continues to hold its ground above key support levels, keeping the broader market cautiously ￰0￱ recent indecisive candles, the setup suggests that one strong bullish move could quickly shift sentiment and reignite momentum toward higher ￰1￱ Faces Mixed Signals As Monthly Candle Closes Bearish In his Chainlink daily technical outlook, crypto analyst CryptoWzrd began by reviewing the higher timeframes, noting that the monthly candle for LINK closed slightly bearish. Additionally, the LINK/BTC pair closed its monthly candle indecisively, reflecting a lack of clear momentum against Bitcoin. Meanwhile, the daily candles for both closed indecisively, setting an ambiguous tone for the near ￰2￱ Reading: Chainlink Eyes 300% Upside As Road To $46 Forms – Analyst CryptoWzrd emphasizes that the LINK/BTC pair must move upside to inject meaningful ￰3￱ this to happen, LINK/BTC needs to hold above the $0.000170 BTC resistance level, which would generate the initial bullish sentiment required for Chainlink to begin its ascent toward the first major ￰4￱ the necessary bullish sentiment is secured, the altcoin is expected to be pushed toward the $20 daily resistance ￰5￱ analyst highlights that achieving a healthy bullish breakout above $20 is the critical event that will trigger the next major upside rally and confirm a stronger directional ￰6￱ the other hand, CryptoWzrd identifies the $16 level as the main daily support for the current ￰7￱ price point must hold to prevent a deeper correction that would jeopardize the current bullish ￰8￱ analyst has stated that his focus for the immediate future will shift to the lower timeframe chart formations ￰9￱ micro-analysis will be crucial for identifying the best scalp opportunities as the market continues to consolidate near these critical structural ￰10￱ Intraday Action Keeps Traders On Edge CryptoWzrd went further to reveal that LINK’s intraday chart has been choppy and slow, reflecting bearishness in the ￰11￱ the lack of strong momentum, the price is still holding above the $16.90 level, which remains a positive sign for the bulls in the short term.

Also, the analyst emphasized that a further upside move is necessary to confirm a constructive chart formation and create a potential long ￰12￱ Reading: Chainlink To $100? Analyst Says This Breakout Could Be The Trigger Without that breakout, the structure remains fragile, and traders could face difficulty finding reliable entry points for bullish setups. A drop below $16.90 could trigger a deeper decline, putting additional pressure on ￰13￱ concluded that patience remains key in navigating the current indecisive phase, as it’s best to wait for the next clear signal or trading setup before making any major ￰14￱ image from Pxfuel, chart from ￰15￱