$LINK
LINK Price Analysis: Short-term Accumulation or Reversal Crisis?
Brothers, the recent trend of LINK is quite noteworthy, let's analyze it! Although the overall trend is still upward, the long shadows of the candlesticks on December 13 and 14 indicate one thing: bears are frequently selling 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 LINK's price strongly rebounds 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, get ready to witness a new wave of upward momentum, targeting $34.7 first, then $37.11!
2. Downside Risk:
In case the price falls below $27.37, brothers need to be on high alert, as this indicates that the short-term bullish force is being dispersed. The price may retest the 20-day moving average (around $24.3), and this level must be fiercely defended by the bulls, otherwise market sentiment will further deteriorate.
If LINK successfully breaks through $31, consider lightly adding long positions, 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, you can tentatively go long, targeting $31, with a stop-loss controlled below $27.
$24.3 Defense Point:
If the price retraces to the 20-day moving average (around $24.3) and the bulls show strong support, consider mid-term positioning, targeting above $31, with the stop-loss strictly controlled below $23.8.
LINK is currently in a critical game phase, with strong resistance at $31 above and $27.37 as a watershed for support below. Brothers, the market direction depends on whether this support can hold! If it breaks, a short-term adjustment is inevitable; if it holds, we have the opportunity to see a new wave of rally.
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