Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Chainlinkcontinues to hold its ground above key support levels, keeping the broader market cautiously optimistic. Despite recent indecisive candles, the setup suggests that one strong bullish move could quickly shift sentiment and reignite momentum toward higher targets. Chainlink 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 term. Related Reading Chainlink Eyes 300% Upside As Road To $46 Forms – Analyst 1 week ago
CryptoWzrd emphasizes that the LINK/BTC pair must move upside to inject meaningful momentum. For this to happen, LINK/BTC needs to hold above the $0.000170 BTC resistance level, which would generate the initial bullishsentiment required for Chainlink to begin its ascent toward the first major target. Source: Chart from CRYPTOWZRD on X
If the necessary bullish sentiment is secured, the altcoin is expected to be pushed toward the $20 daily resistance target. The analyst highlights that achieving a healthy bullish breakout above $20 is the critical event that will trigger the next major upside rallyand confirm a stronger directional trend.
On the other hand, CryptoWzrd identifies the $16 level as the main daily support for the current structure. This price point must hold to prevent a deeper correction that would jeopardize the current bullish targets.
The analyst has stated that his focus for the immediate future will shift to the lower timeframe chart formations tomorrow. This micro-analysis will be crucial for identifying the best scalp opportunities as the market continues to consolidatenear these critical structural levels. Choppy 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 market. Despite 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 analystemphasized that a further upside move is necessary to confirm a constructive chart formation and create a potential long opportunity. Related Reading Chainlink To $100? Analyst Says This Breakout Could Be The Trigger 1 week ago
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 Chainlink. CryptoWzrd 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 moves. LINK trading at $17 on the 1D chart | Source: LINKUSDT onTradingview.com Featured image from Pxfuel, chart from Tradingview.com