Famous crypto analyst Crypto WZRD has posted his new technical viewpoint of Chainlink (LINK) causing great interest within the crypto community. LINK’s recent volatility draws the eye of many, and WZRD analysis provides considerable insights for traders and investors.
The analyst noted that LINK has just recently almost closed positively, creeping higher from a critical resistance zone. The small bullish close increased the hopes of the upward trend continuation. Nonetheless, the analyst warned that LINK should have a daily candle close above the critical $17. 00 level for this bullish move to be confirmed. This level is regarded really significant to substantiate a true bullish breakout, rather than a short-term spike.
LINK’s Path To Potential Gains
The significance of the $17 resistance level should not be underestimated, as it acts as a potential opening to a bigger price move. Once LINK manages to break and sustain over this level, The analyst foresees that the next target for the cryptocurrency could be around $22. This target price level is a substantial upside opportunity, and the realization of it would be a significant milestone for the token in its price action path.
Aside from his wider perspective, the analyst did also give his short term trading strategy. He said he seeks scalp chances provided the intraday volatility is sufficient. Scalping is carried out by making small, quick-profit trades during the day, exploiting little fluctuations in prices.
Source: Chart by Crypto WZRD
With LINK hovering around the critical resistance area, the next few days will be vital to determine its next leg. Investors and traders should be vigilant for the $17 level and monitor for any signs of continued bullish strength. If coin will reach at the expected bullish move towards $22. However, WZRD places provides a systematic and strategic framework for those who want to leverage this possible market opportunity.
The analyst technical outlook provides a mix of prudence and hope, identifying levels of importance and approaches to consider. This is because the crypto market is a dynamic one and can be unpredictable and therefore, such insights are worth having for intelligent trading and investment decisions.
