Technical and Fundamental Analysis of $LINK / USDT🔥🔥🔥🔥‼️👈
◽️Technical Analysis :
1. Price Pattern:
• LINK’s price is following a bearish trend with some intermittent rebounds.
• The price is currently in a corrective phase after the recent drop and is under the pressure of a clear descending trendline.
2. Support and Resistance Levels:
• Strong resistance is located at the 16.00 and 18.00 levels.
• Strong support is found at the 10.00 and 12.00 levels.
3. Technical Indicators:
• The Boom Pro indicator signals a potential bullish crossover soon and is near the oversold area, increasing the likelihood of an upward rebound.
◽️Fundamental Analysis :
1. Trading Volume:
• The current daily volume is 51.195 million, indicating moderate market interest.
2. Cumulative Volume Delta (CVD):
• The total CVD of -350.186 million indicates ongoing selling pressure.
• The spot CVD of -96.606 million also confirms selling pressures.
3. Funding Rates:
• Funding rates are slightly positive at 0.0084, suggesting minor market optimism.
4. Open Interest:
• Open interest is relatively stable, indicating no significant market movements recently.
5. Liquidity:
• Total futures liquidity indicates significant selling pressure at -329.0689.
Expected Trend
• Based on the technical and fundamental analysis:
• Short-term Trend: The price may experience a rebound towards the resistance area at 16.00, but the descending trendline should be closely monitored.
• Long-term Trend: The overall trend remains bearish, with the possibility of retesting lower support levels at 10.00 if selling pressure persists.
CONCLUSION:
It is crucial to monitor the analysis periodically and update the data regularly due to the constantly changing market conditions. This analysis provides a comprehensive view of the current and expected state of LINK / USDT but should not replace direct financial advice.
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