The cryptocurrency market shows signs of recovery amid easing tensions between Israel and Iran, with Ethereum and Chainlink standing out.
Ethereum's Comeback
Ethereum (ETH) has rebounded sharply, rising from a recent low of $2,113 to around $2,450. This renewed interest in cryptocurrencies is linked to an overall improvement in market sentiment.
Chainlink's Signals
Chainlink (LINK) is also returning to the green. A classic harmonic pattern is forming on LINK's chart, signaling a potential short-term rally. This formation, known as the Bearish Bat, indicates possible reversal zones.
LINK's Outlook
If this setup continues to unfold, a breakout above the 100-day moving average would be a strong bullish confirmation. The potential target for LINK is $24.59, corresponding to the 88.6% Fibonacci retracement level. However, traders should remain cautious until a break is confirmed.
The cryptocurrency market is showing positive changes with rising prices for Ethereum and Chainlink. Investors should keep an eye on further signal levels.
