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This support zone can maintain Chainlink’s bullish outlook
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ambcrypto.comA series of higher highs and higher lows have set Chainlink up for success as it prepares for a decisive close above the 50% Fibonacci level. However, a risk-off broader market and MACD’s sell signal was expected to keep LINK grounded within a strong support zone before the breakout. At the time of writing, LINK traded at $29.9, down by 2% over the last 24 hours.
Source: LINK/USD, TradingView
Higher highs at $25, $28 and $41.7 combined with lower highs at $23.6, $25.5 and $28.3 outlined LINK’s steady uptrend from 21 September. An extension of this trend would see LINK smash past the 50% Fibonacci level and challenge some shaky price ceilings above $33.
The Visible Range Profile indicated that LINK would traverse past a large chunk of selling
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