Technical analysis by karmatseringhyolmo about Symbol LINK: Buy recommendation (12/7/2024)

Current Price: $24.81 Support Level: $23.86 Resistance Level: $30.90Key Levels:- Stop Loss (SL): $23.86- Take Profit 1 (TP1): $27.80- Take Profit 2 (TP2): $30.90- Risk-Reward (RR): 6.8Analysis:- Bullish Flag & Pennant Breakout: The chart shows a breakout from a bullish flag/pennant pattern, suggesting strong upward momentum.- Above 21-Day EMA: LINK is trading above the 21-day exponential moving average, indicating a bullish trend.- RSI: The RSI is at a healthy 55.57, signaling no overbought condition yet, and leaving room for further upward movement.- Volume: A surge in volume during the breakout confirms market interest in this upward move.Trade Setup:- Entry: Once price holds above the support level at $24.80, a continuation towards TP1 ($27.80) and TP2 ($30.90) is expected.- SL: A stop loss at $23.86 to manage risk.Disclaimer: This is not financial advice. Please conduct your own research before making any trades. All trades involve risk, and past performance is not indicative of future results.