Chainlink price continued its strong rebound, much to the delight of market participants who seem to have mistaken a cryptocurrency for a unicorn. 🦄💸
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The daily chart shows that the LINK token price has rebounded in the past two days. This rebound occurred after the token formed a double bottom at $11.56 and a neckline at $13.5. A masterpiece of market psychology. 🎨
Chainlink’s price has also formed a large falling wedge pattern, composed of two descending, converging trendlines. It has already moved above the upper side of this pattern, while the Average Directional Index remains at 32, a sign that the momentum is strong. Or, as I like to think, “a temporary case of delusional optimism.” 🧠
Therefore, a move above the $15 resistance will confirm the bullish outlook and point to further gains, potentially to the psychological $20 level. The bullish LINK price forecast will become invalid if it drops below the double-bottom point at $11.50. A cliffhanger for the ages. 🎭
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2025-12-03 21:01