Chainlink chart comparison LINK/USDT VS LINK/BTC ON WEEKLY
2024-12-11
Category: None

📈 Chainlink (LINK/USDT & LINK/BTC) Analysis: Weekly Support Holding Strong with Key Rejection Zone!

Hello Traders! 👋  

Today, I’ve analyzed Chainlink against both USDT and BTC on the weekly timeframe, and here’s what I see:  

1️⃣ LINK/USDT  
- The pair is sitting right at a key weekly support zone
- After a slight pullback this week, the price is showing signs of respecting this support level.  
- The weekly RSI is at 55, suggesting neutral momentum with ample room for upside.  

2️⃣ LINK/BTC  
- LINK/BTC is also consolidating on a critical weekly support area, similar to its USDT counterpart.  
- From the previous swing high to swing low, a Point of Control (POC) level emerges, where price rejection has been observed.  
- This rejection zone could play a pivotal role in price action, acting as a short-term resistance.  

🛠 Key Observations:  
- Both pairs are aligning perfectly at support levels, indicating confluence across markets.  
- Weekly RSI at 55 suggests balanced momentum without overbought/oversold conditions.  
- The POC level in LINK/BTC is a critical area to watch for confirmation of bullish continuation or rejection.  
 

📌 My Expectation:  
If the support zones hold as anticipated, we could see a strong bullish reaction in both LINK/USDT and LINK/BTC, with significant upside potential in the coming weeks.  

🚨 Reminder: Always manage your risk! Use stop-losses and position sizing to protect your capital.  

What’s your take on LINK? Let me know in the comments! 👇  

#LINK #Crypto #Chainlink #BTC #USDT #CryptoTrading #SupportAndResistance #VolumeProfile #TechnicalAnalysis  
