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Chainlink LINK Builds Bullish Momentum as Traders Target $33.75 Resistance
Chainlink LINK Builds Bullish Momentum as Traders Target $33.75 Resistance
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Chainlink LINK News - Chainlink's price action has turned decisively bullish following a weekly close above the 50-day moving average and value area high, confirming structural strength. The reclaim of these key technical levels indicates sustained buying pressure, setting the stage for a potential push toward the $33.75 resistance level.
Market structure now displays consecutive higher highs and higher lows—a classic bullish pattern formation. The $19.28 level has emerged as critical support, where any retest WOULD likely form a higher low before continuation. Trading volume remains healthy despite potential consolidation phases.
Technical analysts highlight the impulsive breakout candle that followed the 50-DMA reclaim, a MOVE that typically precedes sustained uptrends. The value area high has now transitioned from resistance to support, further reinforcing the bullish thesis for Chainlink's near-term price trajectory.
Market structure now displays consecutive higher highs and higher lows—a classic bullish pattern formation. The $19.28 level has emerged as critical support, where any retest WOULD likely form a higher low before continuation. Trading volume remains healthy despite potential consolidation phases.
Technical analysts highlight the impulsive breakout candle that followed the 50-DMA reclaim, a MOVE that typically precedes sustained uptrends. The value area high has now transitioned from resistance to support, further reinforcing the bullish thesis for Chainlink's near-term price trajectory.
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