Technical Signals Point to Upside in LINK/USDT and LINK/BTC Pairs
Chainlink (LINK) is showing signs of a potential reversal rally, with price currently holding above the $20 support zone and eyeing a move toward the $22 level. Technical indicators and strengthening performance against Bitcoin (LINK/BTC) suggest renewed bullish momentum may be on the horizon.
LINK recently retested the $20–$21 green support zone, a level that has historically acted as a strong demand area. Traders note that maintaining this range could open the door to higher targets. On the upside, the immediate resistance sits near $22.50, with a stronger barrier at $28–$30, where sellers previously dominated.
“Chainlink holding the $20 level is critical,” said BITX market analyst. “If bulls defend this zone, we could see a swift rally back to the mid-$20s in the coming weeks.”
Below the current support, the next key cushion lies around $16, highlighted by the orange zone on the chart. A breakdown beneath it would shift sentiment back to bearish.
Beyond USD performance, LINK/BTC is showing relative strength, signaling growing demand for the token compared to Bitcoin. This rotation may attract capital inflows from traders seeking altcoin exposure as BTC consolidates.
“Outperformance against Bitcoin often serves as an early indicator of renewed altcoin momentum,” According to BITX strategists. “If LINK/BTC continues to strengthen, it reinforces the bullish case for LINK/USD.”
With volume stabilizing and price action bouncing off support, LINK appears poised for a short-term recovery toward $22. A decisive close above this level could confirm a trend reversal and potentially target the $28 region.
Still, analysts caution that rejection at resistance could trigger another retest of the $20 support. Maintaining higher lows will be crucial to sustain bullish momentum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.