LINK price targets for January 2022

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Coinmonks

3 min readJan 10, 2022

From where things stand right now, looks like LINKUSD will be trapped within a forming diamond pattern between resistance at $28 and support around $23 for a while yet. If we escape it upside, I’m looking at $35 as the next significant area of interest in terms of liquidity, support and resistance. Downside, back to $20–$23, depending on the liquidations.

Measuring Fib levels from May 2021 highs and local bottom lows a few weeks later after the market crashed before summer, golden pocket lies between $28–29, aligning well with these predictions.

VRPR levels line up too, showing strong volume and interest at $27 and $24.

Seems we’ve hit the top of the range already this past week, topping out around 28.5, but failing to hold $28 as support, twice. We only left but a crack on our approach this week.

After a quick run up last week, we overcame the 20w SMA / 21w EMA Bull Market Support Bands! Progress.

Heikin-Ashi candles are indicating downwards momentum is building. Though, we need to wait to see how today's trading session leads us.

In summary, we must have a clear breakout above the $28 level, with a retest on the daily time-frame as support. Otherwise, the stench of dead bull’s carcass can be expected to overwhelm our senses for many weeks to come.

In that case, might it be better to just stay inside? No. Make sure you have your limit orders in place, where you think it makes most sense. Most lose money trading in bull markets. Only way to profit going LONG is to buy when prices are low.

Be calm folks. Clap for more!

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LINK price targets for January 2022

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Written by Chris Ward