Reversal Triangle Forming for Chainlink (LINK) and Avalanche (AVAX) – Is It Time to Buy LINK and AVAX?

A unique trading pattern could be emerging for Chainlink (LINK) and Avalanche (AVAX), sparking curiosity among crypto enthusiasts. With these two cryptocurrencies showing potential signs of a market shift, the big question looms: Are these tokens on the brink of a price surge? Discover the insights that might guide investment decisions.

Chainlink (LINK) Volatility and Rebound: A Mixed Picture

Chainlink experienced a notable dip over the last month with a decline of nearly 23%, while the six-month period showed a recovery with a 29% gain. The recent one-week performance of 9.52% highlights positive momentum despite short-term setbacks. This price movement suggests that recent challenges may be temporary and reflect a broader cyclical trend often observed during altcoin seasons.

The current trading range sits between $10.20 and $22.70, with key support at $5.58 and resistance at $30.59, along with a secondary resistance near $43.10. Indicators show a near neutral RSI at 47.72, with mixed signals from momentum values keeping bulls and bears evenly matched. Trading within these levels may create opportunities, especially near support levels while targeting resistance zones.

Avalanche AVAX: Monthly Dips Open Trading Opportunities

During the past month, Avalanche dropped nearly 23% while over the last six months, it fell close to 30%. The coin experienced a brief 1.5% weekly gain amid a generally declining trend. Price action over this period reflected stress in the market, leading traders to reassess their positions. The overall downward movement suggests persistent pressure, with intermittent recovery attempts from the lows.

Currently, the price sits between $16.74 and $31.56. Traders see resistance around $40.73 and a second level at $55.55, while support is at $11.10. Bears appear stronger, although short-term indicators show slight positive momentum. Consider buying near support levels and selling close to resistance while monitoring for a potential trend shift.

Conclusion

LINK and AVAX show signs of a potential price reversal. Charts indicate that both are nearing a key level. This could attract buyers looking for a turnaround. Pay close attention to upcoming market movements. The next few days are crucial for confirming this trend. Short-term and long-term investors might find this a good entry point. Keep monitoring market signals and trends.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.