Market Overview for Chainlink/Tether (LINKUSDT) – 2025-09-18

• Chainlink/Tether (LINKUSDT) posted a bullish 24-hour close amid rising volatility and volume.
• Price advanced from $22.94 to $24.47, forming bullish engulfing patterns and breaking key resistance.
• Momentum remains strong, with RSI above 60 and MACD trending higher.
• Bollinger Bands show widening volatility, suggesting increased directional pressure.
• High-volume spikes occurred during late-night to early morning hours, confirming key price moves.

Price Action and Volatility

Chainlink/Tether (LINKUSDT) opened at $22.94 on 2025-09-17 at 12:00 ET and closed at $24.47 on 2025-09-18 at the same time, reaching a high of $24.49 and a low of $22.79 during the 24-hour window. Total volume amounted to 1,521,923.99 with a notional turnover of $36.96 million. The pair exhibited a strong bullish bias, with key price action including a bullish engulfing pattern forming around the $23.00–$23.06 level and a confirmed breakout above $24.00. Price remains above the 20-period and 50-period SMAs on the 15-minute chart, suggesting short-term momentum is intact.

Structure & Formations

Price found strong support at $22.87 twice, with the first rejection occurring on the 18:00 candle and the second on the 05:45 candle. A strong bullish reversal pattern was formed between the $22.87–$23.06 range, followed by a breakout above the $24.00 psychological level. A bearish rejection at $24.49 was observed, but the price remained above $24.33, indicating potential continuation of the bullish bias. A notable doji formed near $24.00 during the 04:15–04:30 window, signaling consolidation before the next leg higher.

Moving Averages and Momentum

The 20-period and 50-period SMAs on the 15-minute chart are bullish, with price above both lines. RSI sits at 63, indicating strong momentum but not yet overbought. MACD remains above zero with a positive histogram, suggesting continued upward pressure. The 50-period EMA on the daily chart is a key support level to watch for near $23.50.

Bollinger Bands and Volatility

Bollinger Bands have seen a significant expansion over the last 12 hours, with price testing the upper band multiple times. The most recent move above $24.00 occurred with strong volume, indicating that the expansion of the bands is a bullish sign. Price closed near the upper band, suggesting continued bullish momentum but with a risk of a short-term pullback into the band’s central area.

Volume and Turnover

Volume spiked significantly between 18:15 and 03:15, with a notable block at $22.87–$24.33. This suggests strong buying interest, particularly during the 22:15–23:30 and 03:15–04:45 windows. The divergence between volume and price is minimal, indicating that price action is being supported by genuine demand. Turnover has been consistent with the price rise, showing no signs of fading interest.

Fibonacci Retracements

Key Fibonacci levels from the $22.79–$24.49 swing are at 38.2% ($23.59) and 61.8% ($24.15). Price is currently above both levels, with a potential target at the 78.6% retracement of $24.56. A pullback to the 61.8% level may offer a short-term buying opportunity, but a break below the $24.15 level could test the $23.59 level as a potential support.

Backtest Hypothesis

The backtesting strategy described involves a breakout-based approach with entries triggered when price closes above the 15-minute upper Bollinger Band combined with a bullish MACD crossover. Stops are placed below the 20-period SMA, with targets set at 1.5 times the ATR. Given today’s price behavior, this strategy appears well-aligned with the observed momentum and volatility. The strong breakouts above the $24.00–$24.49 range and confirmation through volume make this a high-probability setup for a bullish continuation. However, a failure to hold above $24.15 could invalidate the strategy, emphasizing the need for a dynamic stop.