Technical Analysis and Market Overview

  1. Yesterday's Review:

    • Yesterday, LINK oscillated within the range of 24.5-22.2, with both bulls and bears in a stalemate.

    • MACD on the hourly chart shows a weak rebound, but has not broken through the zero axis, indicating that the market is still in a downtrend.

    • The 4-hour candlestick is continuously below the MA30 and MA100 moving averages, indicating an overall bearish arrangement, showing that downward momentum is dominant.

  1. Key Technical Indicators:

    • Moving Average System (MA): MA7 has crossed below MA30, forming a short-term death cross, indicating that the price is under short-term pressure.

    • Bollinger Bands (BOLL): The middle band of the Bollinger Bands channel is forming short-term resistance near 22.5, while the lower band support is around 21.9.

    • Trading Volume: Recent trading volume has been consistently decreasing, indicating cautious market sentiment and a lack of upward momentum.

    • MACD: The MACD histogram on the 4-hour chart is gradually shortening, indicating a decrease in bearish strength, but no bullish signals have yet appeared.

    • RSI: The current RSI value is around 35, approaching the oversold zone, with short-term rebound demand, but the strength is limited.

  2. Support and Resistance:

    • Upper Resistance Levels: 24.5 (near yesterday's high), 23.0 (MA30 moving average).

    • Lower Support Levels: 22.0 (psychological level), 21.5 (previous low area).

Today's Operational Suggestions

  1. Short Position Strategy:

    • Entry Range: 24.4-24.6

    • Take Profit Level 1: 23.0

    • Take Profit Level 2: 21.9

    • Stop Loss Level : 25.0
      Reason : 24.5 is a short-term resistance level, making it difficult for the price to effectively break through, with a high probability of a pullback.

  2. Long Position Strategy:

    • Entry Range: 21.7-21.9

    • Take Profit Level 1: 22.8

    • Take Profit Level 2: 24.2

    • Stop Loss Level : 21.0
      Reason : 21.7 is the previous low, providing strong support, and there is a demand for a rebound in the short term due to overselling.

LINK is currently in a phase of consolidation and decline; there is a possibility of a short-term rebound, but the overall trend is weak. It is advisable to adopt a strategy focused on short positions, with some buying at lower levels.
Key Data: Pay attention to the resistance and support performance at 24.5 and 21.7. If the price effectively breaks below 21.7, it may further test the 21.5 or even 21.0 area.

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