I invite you to review the LINK chart taking into account the four-hour interval. Here we will start by defining, using the blue lines, the upward trend channel from which the price broke out at the bottom, but we can see a quick return and a fight to return to the channel. At this point, it is also worth marking the local downward trend line in yellow, which the price has broken with an upward movement.
Looking at the current situation, we will spread the Fib Retracement grid, thanks to which we can confirm the place of return to the channel, as the first significant resistance at the level of $14.28, then we have a visible second resistance at the level of $15.57, and then located at the upper border of the upward trend channel , a strong resistance zone from $16.50 to $17.67.
Please look at the EMA Cross 10 and 30 indicator as we can see the red ema cross 10 line attempting to cross the green ema cross 30, potentially indicating a return to the local uptrend. However, it is worth being careful whether this is just a false breakout and the price will start to reverse.
In such a situation, we will unfold the fib retracement sheet again to determine the supports. And here you can see support at the level of $13.79, and then it is worth marking the support zone from $12.74 to $12.19, if this zone is broken, we can see the price return to around $10.59.
Now it is worth switching to the RSI indicator, which shows an upward trend line that gives rise on the chart, with room for new movements, but after switching to the STOCh indicator, we see that a downward trend has begun, which may, however, result in a price correction.
Looking at the current situation, we will spread the Fib Retracement grid, thanks to which we can confirm the place of return to the channel, as the first significant resistance at the level of $14.28, then we have a visible second resistance at the level of $15.57, and then located at the upper border of the upward trend channel , a strong resistance zone from $16.50 to $17.67.
Please look at the EMA Cross 10 and 30 indicator as we can see the red ema cross 10 line attempting to cross the green ema cross 30, potentially indicating a return to the local uptrend. However, it is worth being careful whether this is just a false breakout and the price will start to reverse.
In such a situation, we will unfold the fib retracement sheet again to determine the supports. And here you can see support at the level of $13.79, and then it is worth marking the support zone from $12.74 to $12.19, if this zone is broken, we can see the price return to around $10.59.
Now it is worth switching to the RSI indicator, which shows an upward trend line that gives rise on the chart, with room for new movements, but after switching to the STOCh indicator, we see that a downward trend has begun, which may, however, result in a price correction.