Filecoin Shows Rebound Potential While Chainlink Eyes Critical Resistance

In recent technical analyses shared by crypto analyst Ali (@ali_charts), two major altcoins—Filecoin (FIL) and Chainlink (LINK)—are showing distinct

Filecoin (FIL) is showing promise of a rebound potential as it tests the lower boundary of its trading channel and the TD Sequential indicator just flashed a buy signal.

At the time of analysis, Filecoin is currently trading at $2.64.

What Happened: As shared by crypto analyst Ali, who is known online as "@ali_charts," Filecoin has been moving within a defined trading channel since early March.

The crypto is now testing the lower boundary of this channel, and at the same time, the TD Sequential- a momentum-based indicator used to predict market reversals- just flashed a buy signal. This technical cue is signaled by a green 13-period Relative Strength Index (RSI) divergence, spotted below the last five candlesticks.

The analysis highlights a series of nine consecutive bearish candles, spotted in purple, which is used to identify the completed units of the TD Count.

After a sustained downward trend, the TD Sequential indicator is known for picking up on short-term price reversals or a stabilization phase.

The analysis adds that the last time the TD Sequential flashed a buy signal, Bitcoin (BTC) experienced a brief recovery after facing strong resistance at the 200-period Simple Moving Average (SMA).

Chainlink Faces Major Resistance: The crypto analyst further noted that Chainlink (LINK) is rapidly approaching a decisive resistance level at $15.

According to Ali, this price zone is not only psychologically significant but also a point where a significant portion of "out of the money" holders, who entered at higher levels, are likely to be focused on.

The accompanying visualization showcases a cluster of red bubbles around the $14.78-$15.22 price range. These bubbles denote addresses with substantial trading volume, suggesting a strong selling presence at that resistance zone.

According to the analyst, if Chainlink manages to break through this resistance with sufficient volume, it could pave the way toward higher highs and renewed bullish momentum in the short-term.