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Let's focus on LINK together.
This wave of LINK’s increase has reached 184%. Many people don’t understand why LINK has risen so high before.
Before understanding LINK, we need to understand a blockchain technology - the oracle system, which is an important component of blockchain technology and an important component of the DeFi field. What it can do better is to balance the quotations of tokens by combining different changes in token transaction volume and price across the entire network, because many tokens are traded on different exchanges and other chains, and these transactions are generated during the transaction process. Quotation requires an oracle to achieve unification and balance. Therefore, any project generated on the blockchain is inseparable from the oracle.
LINK is the leader in the oracle machine, and this leader is temporarily unshakable and unshakable.
Therefore, this round of rising prices lasted for almost a month and fully activated the funds and emotions that were squeezed in the market next year, leading to the appearance of a "bull market" in the short term and also driving the frequent activity of the entire copycat market. As the copycat market is active, everyone uses LINK heavily for transactions, quotations, etc.
At the same time, anyone can purchase LINK to pledge and become a prophet in the oracle machine, providing data for users. Therefore, the operation of many projects must be inseparable from LINK. At present, the most mature technology and the most widely used oracle is Chainlink, which is LINK.
Of course, LINK also has a core drawback, which is that its wide usage has caused excessive centralization. If the consensus of the entire network reaches more than 50%, then people can control the LINK system to control the token quotation. Of course, if they want to get 50% of the entire network % token support rate is still very difficult. At the same time, LINK also made a backup plan-API3.

Let’s take a look at the token price trend:
First of all, the focus of this token is on the activity of the crypto market. If the price of Bitcoin stabilizes at this position, or fluctuates by 1-2 thousand, it will not affect the follow-up or panic of the altcoin market for the time being. On the contrary, if it effectively falls below 34,000 Only then will the selling pressure be exerted on the copycats. Of course, if the market continues to stabilize after the impact, copycats will still be active, but they may not be as active as last time.So for LINK, market activity is very important.

Looking at the price, LINK has recently fallen back to around 13. Although the buying volume below has held this support level, the risk of a LINK correction cannot be avoided. According to NETFLOW's monitoring, the net flow of LINK is 290,000 pieces, and the average price is around 14.1, which is Saying that there are $4 million worth of tokens that will be sold off when the market turns around is a very favorable amount of selling pressure.
And what about the lower support?
If we look at the Fibonacci retracement level, the two nearest support levels below are 14 and 12.3. If 14 falls below, we will have to look at the support level of 12.3. If this position falls below again, then the concentrated support of the chips below will only It could be 7.8-8.8. This position is the concentration point of the bottom chip peak, which can be regarded as an effective support point on the chip. And the daily MA200 moving average is close to this position, so a deep correction near 7.5 will be a strong support.

Trading advice:
Friends who are currently holding a position must pay attention to whether the support level falls below. If it falls below, you must choose to reduce your holdings or stay on the sidelines. At the same time, you must take into account the current market environment and be wary of the selling pressure of US$4 million above.
Friends who have not yet opened a position can also refer to whether the two recent support levels have stabilized. If this area has stabilized, the market environment is good, and the market funds are sufficient and active, you can open a position appropriately.
Of course, it is best to open positions in batches at this time. If the short-term market reverses, you will not lose much when leaving the market. If the short-term market corrects again, you can call back to cover the position.
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