$LINK Price Prediction for December 28

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LINK has experienced a significant drop of -9.24%, trading at $21.32. This decline signals a bearish sentiment in the short term. With the broader market facing pressure, LINK could continue to face downward momentum unless key support levels hold, suggesting traders should watch closely for signs of stabilization or further declines.

Bearish Sentiment Prevails

LINK’s recent price movement indicates ongoing selling pressure, pushing the price lower. Despite its strong market cap and popularity, the coin is not immune to the current market correction. The bearish trend could persist if the support levels fail to hold, but a recovery is possible if the market sentiment turns around.

Critical Support Levels

The $20.00 support level is a key point for LINK. A failure to hold above this level could result in further declines, with next support zones around $18.00 and $15.50. A rebound from these levels could stabilize the price, while a continued drop might signal a deeper correction.

Short-Term Market Behavior: Correction Phase

LINK is currently experiencing a correction, which is a common phase after strong bullish movements. The market’s current behavior suggests the coin could see further downward pressure before finding solid support. However, if LINK manages to hold above $20.00, a reversal could occur, with the price potentially testing higher resistance levels.

Key Levels for Risk Management

For traders, the immediate support at $20.00 is crucial to track. A drop below this could push LINK to lower support levels. On the resistance side, $22.50 and $24.00 are key levels to monitor. A recovery above these points could help reverse the bearish sentiment and provide an opportunity for long-term gains.

In conclusion, LINK needs to maintain support above the $20.00 level to avoid further downside. If the price can recover and break through resistance levels, it may signal a potential reversal and the return of bullish momentum.