buy on weakness

Chainlink Drops to $22 but Momentum Intact — Target $24.74

I see the recent 6.86% drop in Chainlink as a pullback within a still-bullish setup rather than a trend reversal. LINK trading at $22.27 leaves upside potential toward the $24.74 resistance while key technicals remain constructive.

The RSI near 63.5 and clear support around $15.43 suggest momentum is intact and downside is limited versus the current level. I expect a retest of the $24.74 area if buying interest returns above short-term consolidation.

I’m watching for entries on weakness or on a confirmed bounce, and I’d keep risk tight beneath the $15.43 support if taking a long exposure.

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Analysis

Despite a near 7% daily decline, RSI remains in bullish territory (63.5) and a solid structural support sits at $15.43, implying the pullback could be a buying opportunity. The $24.74 level is the nea...

Recommendation

I recommend a buy-on-weakness approach: consider accumulating on dips while keeping a stop below $15.43 and targeting the $24.74 resistance for near-term gains; size positions to account for volatilit...

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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