What to know:
- Ali Charts signals a possible Chainlink rebound as LINK defends crucial $9.40 support.
- A TD Sequential buy setup places Chainlink traders on alert for recovery.
- LINK price stabilizes near support while traders monitor a possible move higher.
Crypto analyst Ali Martinez has identified a TD Sequential buy signal on Chainlink (LINK), with traders now watching for a possible rebound toward the $10 level. According to him, the bullish setup appeared on LINK’s daily chart following several sessions of declining price action. The chart showed LINK falling from levels above $10.50 before stabilizing near the $9.40 support range.
The analyst shared a chart displaying a completed “9” count from the TD Sequential indicator. At the time of the analysis, LINK traded near $9.62, and a move toward $10 would represent a notable rebound from recent lows while pushing the token back toward a resistance zone visible on the chart.
Traders Monitor LINK Momentum Following Bullish Signal
According to Ali Charts, the current setup suggests momentum may begin shifting back in favor of bullish traders. The analyst stated that confirmation of the signal could support a rebound toward the $10 level.
Additionally, the chart shows LINK holding support between $9.40 and $9.60 during recent sessions. Sellers attempted to push prices lower several times. However, buyers continued defending the support region shown on the daily timeframe.
Moreover, traders closely monitored whether LINK could build stronger momentum following the appearance of the buy signal. Sustained price movement above current levels could strengthen expectations surrounding a recovery attempt toward the closely watched resistance area.
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Meanwhile, focus has also shifted to the recent decline visible on the chart before the TD Sequential signal appeared. LINK previously traded above $10.50 before sellers forced the token lower during consecutive trading sessions.
Ali Charts stated that the latest setup placed Chainlink back into focus as traders searched for signs of renewed bullish momentum around the token. Market participants now continue monitoring whether the signal can support a stronger recovery attempt in upcoming sessions.
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