$LINK

LINK Coin Price Analysis: Short-term Consolidation or Reversal Crisis?

Brothers, the recent trend of LINK is quite interesting, let's analyze it! Although the overall trend is still upward, the long shadows of the candlesticks on December 13th and 14th indicate one thing: bears are frequently offloading above $30, so we need to be cautious.

Key Support and Resistance Levels

1. Support Below: $27.37

This level is an important defense line in the short term. If the LINK price rebounds strongly from the current level or $27.37, we may hope to see the price continue to challenge the resistance level of $31. If it breaks through $31, brothers, be ready to witness a new wave of upward movement, with the first target at $34.7, followed by $37.11!

2. Downward Risk:

In case the price falls below $27.37, brothers must raise their vigilance, as this indicates that the short-term bullish forces have been dispersed. The price might retrace to the 20-day moving average (around $24.3), which the bulls must defend with all their might; otherwise, market sentiment will further deteriorate.

If LINK successfully breaks above $31, consider taking a small position to go long, with a short-term target of $34.7 and a stop-loss set below $30.

If the price retraces to $27.37 and shows clear signs of rebound, a tentative long position can be considered with a target of $31 and a stop-loss controlled below $27.

$24.3 Defense Point:

If the price pulls back to the 20-day moving average (around $24.3) and the bulls show strong support, consider medium-term positioning, targeting above $31, with a strict stop-loss controlled below $23.8.

LINK is currently in a critical game stage, with strong resistance at $31 above and $27.37 as the dividing line for support below. Brothers, the market direction hinges on whether this support can hold! If it breaks, a short-term adjustment is inevitable; if it holds, we may have the opportunity to see a new wave of upward momentum.