LINK/USDT has ranged between the $10.456 support level and $11.788 resistance level since October 25th. However, the price broke above the $11.788 resistance level today and made a new high.
Overall, the price of LINK/USD has gained about 74% since October 13, and will possibly gain 35-40% further after making some retracement.
I am expecting the price will drop to $11.40 support level and 0.786 Fibonacci level before heading for new highs. I am considering the $11.40 support level for buy entry and my target for this trade is $15.95.
Chainlink (LINK) fundamental analysis
The Chainlink (LINK) surge is far from done as analysts expect the price to surge to $15.95.
LINK/USDT is among the altcoins that have witnessed a significant resurgence in recent days along with bitcoin and other major cryptocurrencies and will possibly continue their rally in the coming days.
LINK to Tether trade idea takeaways
LINK/USDT recovered 74% since last month.
The price will possibly rally to the $15.97 resistance level in the coming days.
Multiple take-profit levels have been added to secure profit along the way.
The risk-to-reward ratio on this trade is 1:6.4.
The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.
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