Chainlink Rebounds 44% — Momentum Could Fuel ‘Round 2’ If Resistance Is Cleared
I see Chainlink regain momentum after a sharp 44% rally, with traders now speculating about a potential “round 2.” The move underscores renewed demand and positive momentum, but it also raises the probability of short-term profit-taking.
I remain cautiously optimistic: the bullish case hinges on follow-through volume and a clean break above recent resistance levels. If that confirmation appears, further upside is likely; if not, a pullback toward support would be a sensible entry.
Analysis
Recommendation
I favor a buy stance on confirmed breakout above resistance; alternatively use pullbacks to strong support for staggered entries and keep position sizing tight given elevated volatility.
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.