It looks like the market is in a period of consolidation, with $LINK showing signs of potential retracement. Currently trading at $18.59, LINK is facing selling pressure after failing to hold its earlier highs around $19.71. The $18.50 level is holding as a crucial support, and any further drop below $18.40 could lead to a deeper decline, possibly testing the $18.00 zone.
On the positive side, if $LINK manages to reclaim $19.00, it could suggest a bullish reversal, with potential targets around $19.50 and higher. Given the current volatility, traders can find short-term opportunities, but risk management will be essential to navigate the swings in price action effectively.
The key levels to watch are:
Support: $18.50 (critical), $18.00 (next level of support).
Resistance: $19.00, $19.50 and above.
Stay cautious and monitor for breakout or breakdown signals.
