Will LINK Hold or Dive Deeper? Major Support Ahead!
2025-01-29
Category: None

LINK has been range-bound for the past two weeks, struggling to break through the $26-$27 Key Zone. After multiple strong rejections, price started slowly to pull back, now approaching a critical support zone, the 0.618 Fibonacci retracement at $21.41.

 Key Levels & Recent Price Action: 
 
 0.618 Fib Retracement ($21.41)
 Weekly Level ($20.96) & 0.666 Fib → Additional confluence reinforcing this support zone
 Fib Speed Fan (0.8) → Aligns with this level, making it a high-probability bounce area
 
 Short Trade Recap 
Today, the weekly level was tested, leading to a rejection, offering a valid short setup.
For the short trade target the dOpen was hit perfectly, acting as a key intraday level.

Now, the big question:
Will LINK lose the dOpen and head lower to finally test the 0.618 retracement?
Or will buyers step in to defend this level?

 Long Setup & Upside Potential: 
 
 Entry Zone: $21.41 - $20.96 (Golden Pocket)
 Stop Loss: Below 0.786 Fib
 Take Profit: $30 psychological level, $35 - 0.618 Fib
 
 Why This Trade Setup is High-Probability: 
 
 Liquidity Sweep Potential → A dip into this range could liquidate long positions, creating a strong buying opportunity
 Golden Pocket Confluence → 0.618 & 0.666 Fibs + Weekly Support = A strong demand zone
 
 Final Thoughts: 
 
 If LINK breaks below the dOpen, the swing low and the 0.618 fib retracement becomes the key level to watch for a high-probability long entry.
 If price reacts strongly to this support zone, a long trade could target $30+ in the coming future, offering an excellent risk-to-reward setup!
