Technical analysis by karmatseringhyolmo about Symbol LINK: Buy recommendation (12/11/2024)

📈 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