Technical analysis by coilemard about Symbol LINK: Buy recommendation (12/16/2024)

Greetings Everyone, Wishing you all a prosperous and joyful season! I wanted to share a quick analysis update regarding Chainlink (LINK). The chart is showing some exciting developments that align with classic technical patterns, which might hint at further bullish potential.🎯 Chainlink’s Recent Breakout: Key Highlights1.Cup-and-Handle / Base Breakout Chainlink has recently broken out of a textbook cup-and-handle accumulation base. This pattern typically signals a bullish continuation, especially when combined with strong volume.2.Massive Volume ConfirmationThe breakout came with two of the largest volume candles in over a significant time period . Volume validated this bullish breakout, as it confirms strong participation from buyers and suggests further upward momentum.3.EMA Support and Dip-Buying Opportunities•As long as the price holds above the critical label (4) level, any pullbacks to the Exponential Moving Average 9,21 (EMA) should be seen as buying opportunities. Any break below EMAS with strong rejection should be sold immediately. 4. Massive spike on the DMI (directional movement index) indicator confirms buying pressure. 5. Projected Price targets using Fibonacci Further Research Material: Will be supplementing post with other resources to help you to make a better trading decision. Please check link: https://www.dropbox.com/scl/fo/pxajrgwzqexlr8iqy3kvr/AAqdvfVdpqu-6AJIGIH3Xvw?rlkey=dc2l7686tzda7vjpw3risefgw&st=9a68i40v&dl=0Quick Recap: •Price above label (4) = bullish continuation.•Controlled Dips to the EMA = Buying Opportunity •Sustained volume = confidence in further price movement.• Strong Rejection Below EMAS= No support for current pricing. Sell signal. Closing Thoughts:Look out for entering during a “cool off period” aka accumulation phases. Best,clemard