LINK/USD is looking bullish and setting up for a potential breakout. We call this an “Adam and Eve” reversal pattern and it looks as follow :
On the daily timeframe we form a higher low and we have a clear neckline (resistance) at 35 USD. If LINK can break the neckline of 35 USD I expect a nice rally and reach the following targets : 42,50 and 49,40 USD, with potential to reach higher levels and break the all time high around 52 USD.
Entry : Break of neckline (35 USD)
Target 1 : 42.50 USD
Target 2 : 49.40 USD
Invalidation : Break below 35 USD after breaking it. (Failed breakout)