Chainlink cryptocurrency be expected to rise further toward the next resistance level 12.
– Chainlink reversed from strong support area
– Likely to rise to resistance level 12.7
Link cryptocurrency recently reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing from the strong support area located between the pivotal support level 9.00 (which stopped the previous sharp downward impulse wave i at the start of August, as can be seen from the daily Link chart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous short-term impulse wave 3 of the multi-month downward impulse wave (3) from the end of May.
Given the strength of the nearby support level 9.00 and the improvement of the sentiment that can be seen across the crypto markets recently, Link cryptocurrency be expected to rise further toward the next resistance level 12.
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