ChainLink targets $22 as linkbtc shows signs of inversion. Is the next rally near?

Cryptowzrd noted in a new update that the signs were heading further, as ChainLink ended the day with a bullish note. The strength of LinkBTC is adding momentum, suggesting further pressure from the bull. On the daytime charts, the $22 level has emerged as the next major bullish zone, while the lower time frame focuses on finding the next scalp opportunity.

linkbtc triggers a reversal of the chain link

In an elaborate analysis, Cryptowzrd confirmed strong bullish proximity for both ChainLink price and Link/BTC pairing. In particular, the Link/BTC pair printed a powerful bullish daily candle, an event that coincides with the decline in Bitcoin’s dominance. This simultaneous action suggests that capital is spinning from Bitcoin to altcoins like Link, providing an important underlying strength.

Analysts believe a key confirmation of a major reversal is approaching. Achieving one more bullish nearer from the link/BTC pair will provide even more bullish momentum and solidify the inversion. Such developments will greatly support the link to become more bullish from the current price location.

Looking at the price structure, the analysis identifies $20 as ChainLink’s primary daily support level. Current setups driven by the strength of the Link/BTC pair suggest that if two consecutive bullish closures occur, they may promote rapid V-shaped recovery. This means that recent DIPs are retraced quickly and aggressively. If this V-shaped recovery is achieved, the immediate outlook would refer to a rally to a major resistance target, such as $25, followed by an ambitious $30 target.

Holding the key resistance zone can unlock fresh long opportunities

Cryptowzrd emphasized that both volatility and a strong underlying bullish bias characterizes the daytime chart. The key point is that movement above the $22 resistance level is an indicator of strength. Based on this pressing move, analysts stated their intention to look for a long position.

Analysts also outlined alternative entry scenarios that could emerge sooner. He suggested that this inversion pattern could cause a long early opportunity if a bearish pullback arises from the current price location and a decisive bull inversion follows immediately. Meanwhile, the instant downside support level for viewing is identified at $19.80.

For the time being, analysts will be in a waiting period as the current environment is ambiguous about immediate admission. Cryptowzrd concluded that the next course of action is to wait for the market to develop and generate more chart formations that confirm direction.