Technical analyst Cryptowzrd shared his latest view on Chainlink (Link) price action in a recent post, pointing out that assets ended the day with a neutral, indecisive end. Although the meeting lacked a clear direction push, he noted that such pauses were usually ahead of sharper moves.
Cryptowzrd plans to monitor the intraday chart tomorrow to bring the potential reversal set above $15.85, which he believes is the first sign of bullish intentions. However, ongoing moves over $16.80 will provide a more confirmed breakthrough and a greater chance, suggesting buyers are starting to control.
Can chain links get rid of the current stagnation?
In its latest analysis, Cryptowzrd noted that Link and LinkBTC are hesitant in today’s meetings, and the daily candles reflect weaknesses in price action. While the lack of clear direction is noteworthy, both assets need to see a surge in buying pressure at these levels to establish a new bullish trend.
Especially for LinkBTC, Cryptowzrd suggests that potential push may be achieved as Bitcoin’s advantage approaches its resistance target. This rise in Bitcoin’s advantage could provide the link with the necessary headwinds to gain momentum and transition to a bullish phase consistent with the broader market movement.
For Link, the $16 level has become an important support zone as bullish reversal in the field will increase impulsive price action and potentially push Chainlink toward its resistance target of $19.50 in the near term.
If Chainlink decisively exceeds $19.50, Cryptowzrd is expected to hold a bigger rally that could push the asset to a resistance level of $30. However, these bullish results depend on consistent upward pressure and a healthy price structure to support this move.
At this juncture, the market is waiting for the formation of the next trade setup, whether it is a strong reversal support or a clean breakthrough above resistance to provide impetus for the next major move.
Pay attention to breakthroughs or mergers
In short, analysts observe that today’s intraday charts are characterized by volatility and slow prices, with no clear direction. Given the lack of momentum, as the market operates through these levels, the expected volatility will increase. However, the price needs to decisively exceed the intraday resistance level of $16.80 to trigger a solid long-term entry.
That is, the price may move sideways in the short term and consolidate within range. If this happens, $15.85 will serve as the main intraday support target, where the market can find temporary stability before deciding on the next step. With indecisiveness in the current market, the best action is to wait for a good chart pattern to form or provide clear settings for high probability trade entry.
