Chainlink Ignites Bullish Momentum As BTC Dominance Slips—Breakout Brewing?

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Providing fresh market insighton X, Cryptowzrd revealed that Chainlink ended the session on a bullish note, with signs pointing to further upside pressure. As LINKBTC gains momentum and Bitcoin’s dominance trend declines, the setup appears promising. Cryptowzrd noted he will be monitoring the intraday chart closely for the next scalp opportunity, particularly if LINK breaks above the intraday lower high trendline. Bitcoin Dominance Weakens: A Catalyst For Chainlink’s Surge

According to Cryptowzrd, both LINK’s daily candle and the LINKBTC pair ended the day on a bullish note. This positive price actionis drawing attention to the potential for further upside movement. Cryptowzrd emphasized that continued strength in LINKBTC, especially if fueled by ongoing weakness in Bitcoin Dominance, could help LINK gain significant bullish momentum from its current levels. Related Reading Chainlink Sees Heavy Accumulation – Whales Add 8M LINK In One Month 6 days ago

Looking ahead, the next major resistancetarget for LINK is set at $20. Cryptowzrd suggested that a firm hold above this level could act as a catalyst for a stronger rally toward higher resistance levels, possibly reaching $30 and beyond.

The speed at which this move might unfold was another key point highlighted by Cryptowzrd. He expects that once LINK clears the $20 hurdle, the rally could accelerate rapidly, driven by increased bullish pressure and technical confirmation across multiple timeframes. LINK eyes upside breakout | Source: Cryptowzrd  on X

While the outlook is bullish, Cryptowzrd also pointed out an important support zoneto watch. The $16 level has been identified as the main daily support target. Holding above this area will be crucial to maintaining the current bullish structure and preventing any deeper pullbacks.

Overall, Cryptowzrd’s analysis suggests that Chainlink is positioned for a potential breakout phase, with $20 acting as the immediate resistance to watch. If Bitcoin Dominance continues to weaken and LINKBTC remains strong, traders could see a swift and powerful rallyunfold in the days ahead. Volatility Vs. Patience: Navigating LINK’s Weekend Setup

Concluding his analysis, Cryptowzrd noted that LINK’s intraday chart experienced significant volatilityin the last 24 hours, reflecting an uncertain short-term outlook. He expects this choppy price action to continue, but due to the lower trading activity typically seen over the weekend, his expectations remain rational. Related Reading Chainlink Bullish Trigger: Why $16 Holds The Key To The Next Rally 1 week ago

The key level to watchis $18.40, which serves as an intraday resistance target. According to Cryptowzrd, if Chainlink holds above this level, it could trigger a long setup aiming for a move toward $19.80 or higher in the near term. However, if LINK remains below $18.40, Cryptowzrd expects the price to stay range-bound with continued sideways movement over the weekend. LINK trading at $18.34 on the 1D chart | Source: LINKUSDT on Tradingview.com Featured image from Shutterstock, chart from Tradingview.com