Chainlink Targets $22 As LINKBTC Shows Signs Of Reversal – Is The Next Rally Close?

CryptoWzrd noted in a fresh update that Chainlink ended the day on a bullish note, with signs pointing to more upside ￰0￱ strength in LINKBTC is adding momentum, suggesting further pressure from the ￰1￱ the intraday chart, the $22 level is emerging as the next key bullish zone, while lower time frames remain the focus for spotting the next scalp ￰2￱ To Trigger A Reversal For Chainlink In an elaborate analysis, CryptoWzrd confirmed a strong bullish close for both the price of Chainlink and the LINK/BTC pairing. Notably, the LINK/BTC pair printed a powerful bullish daily candle, an event that coincided with a decrease in Bitcoin’s ￰3￱ simultaneous action suggests that capital is rotating out of Bitcoin and into altcoins like LINK, providing significant underlying ￰4￱ Reading: Chainlink (LINK) Triangle Setup Points To $100, Says Analyst The analyst believes that a key confirmation of a major reversal is ￰5￱ just one more bullish daily close from the LINK/BTC pair would offer further bullish momentum, which would solidify the ￰6￱ a development would significantly aid LINK in becoming more bullish from its present price ￰7￱ at the price structure, the analysis identifies $20 as the primary daily support level for ￰8￱ current setup, driven by the strength in the LINK/BTC pair, suggests that if a second consecutive bullish daily close occurs, it could spur a rapid V-shape ￰9￱ implies that the recent dip would be quickly and aggressively ￰10￱ this V-shape recovery materialize, the immediate outlook points to a rally toward key resistance targets such as $25, followed by the more ambitious target of $30.

Holding Key Resistance Zone Could Unlock Fresh Long Opportunities CryptoWzrd highlighted that both volatility and a strong underlying bullish bias characterized the intraday chart. A key takeaway is that a move above the $22 resistance level is an indicator of ￰11￱ on this impending move, the analyst stated his intention to look for a long ￰12￱ Reading: Chainlink Bulls Eye $30 Target But Must First Overcome Crucial Resistance The analyst also outlined an alternate entry scenario that could present itself ￰13￱ suggested that if a bearish pullback were to occur from the current price location, followed immediately by a decisive bullish reversal, this reversal pattern could trigger an early long opportunity.

Meanwhile, an immediate downside support level to watch is identified at $19.80. For the time being, the analyst is in a waiting period, as the current environment is ambiguous in terms of immediate ￰14￱ concluded that the next course of action is to wait for the market to further develop and produce chart formation that confirms the ￰15￱ image from Pxfuel, chart from ￰16￱