Chainlink Targets $22 As LINKBTC Shows Bullish Reversal Signs
Chainlink Shows Bullish Momentum
- Chainlink ended the day positively, with LINKBTC displaying strength and potential for further gains.
- The $22 level is a key bullish zone on the intraday chart.
- LINK/BTC pair showed a strong bullish daily candle, coinciding with decreased Bitcoin dominance, indicating capital rotation into altcoins like LINK.
- A second consecutive bullish close could trigger a rapid V-shape recovery, potentially leading to rallies toward $25 and $30.
Potential Long Opportunities
- Volatility and a strong bullish bias are present in the intraday chart.
- Breaking above the $22 resistance suggests strength and a possible long position opportunity.
- An alternate entry could occur if a bearish pullback is followed by a decisive bullish reversal.
- The immediate downside support level is identified at $19.80.
- The analyst remains observant as the current market environment remains ambiguous.
