Link has broken out of a range, which potentially is the range on the bullish trend. The range has broken the resistance at the 7.25 level, and has now created the support at the early resistance. This needs to be tapped at the support and form the bullish price action to continue moving up. We are targeting the 7.95 price point as the 9% profit target.

The descending trendline has broken out for buys and the market has also validated the price action for the continuation upwards. We will look for the smaller time frame breakout buys of the trendline for further confirmation.

There is no retracement setup attached to this setup.

EMA 50 has broken out for buys earlier and is steep curved upwards. That being said, we can easily swift away the upper level of the resistance with the steep EMA 50 curve.

RSI is at 62. This needs to be neutralized at the 50 level, where it aligns with other technical factors on the chart.

Chainlink towards the bullish side

May 07 2023