Linear (LINA/USD) dropped more than 10% on Tuesday amid a broad market sell-off that pushed many tokens down over 5%. Despite that weakness, LINA enjoyed a strong session on Monday, rising above $0.05. The token is now approaching a significant resistance level around $0.07, a zone that has repeatedly capped gains in the past. A decisive move above $0.07 would suggest LINA is ready for its next leg higher after trading in the same range for more than five months. Traders should exercise caution, however: LINA attempted to break out last week, failed, and fell back below $0.07. The coming days may see another breakout attempt, and if volume and momentum confirm it, this one could hold.
Reviewing the charts shows several key points to watch:
- Linear faces strong resistance at $0.07 after retreating from the $0.10 level. It is now approaching that resistance with rising momentum and elevated buying volumes. A clean break above this level could mark the start of a bullish rally.
- A Golden Cross was observed earlier in November, which is a bullish technical signal and suggests that LINA could strengthen in the coming weeks.
- Investors should remain cautious and consider entering only after a confirmed breakout with robust buying volume. Waiting for a retest of the broken resistance can help avoid being trapped by a false breakout.
- Potential near-term targets include $0.09 and $0.10, while a longer-term target around $0.15 could be considered if momentum continues.
Conclusion
Following Tuesday’s significant shakeout, Linear appears positioned for an upward move and could be poised to break out. Still, investors should be patient and only initiate long positions once a clear breakout and trend reversal are confirmed by volume and price action.