Analysis from ZAYK Charts has spotlighted Chainlink (LINK) and Filecoin (FIL) as cryptocurrencies showing promising trends. Chainlink sees an upward trend reversal, while Filecoin signals potential growth.
Chainlink's Upward Trend
Chainlink (LINK) is exhibiting a breakout from a descending wedge pattern on the weekly chart, indicating a potential bullish reversal. Descending wedges typically signal a shift from bearish to bullish sentiment when prices breach the upper trend line.
Positive Signals from Filecoin
Filecoin (FIL) also shows positive signals after breaking out of a falling wedge pattern on the daily chart. This pattern often indicates a trend reversal when prices move above the upper trend line, suggesting potential growth.
Key Levels for Filecoin
For Filecoin, the new support level around $3.80 now serves as a base for further upward movement. Buyers are expected to defend this level as FIL approaches near-term resistance around $5. If FIL maintains its momentum and breaks through this resistance, it could rally towards the $6.40 target.
Both Chainlink and Filecoin display technical patterns consistent with bullish reversals, attracting attention from traders and analysts. The breakouts and projected targets underscore their potential for sustained momentum in the weeks ahead.
