1. Market Review
Yesterday, LINK exhibited a short-term surge followed by a decline, with the 4-hour chart showing the price reaching a high of about $24.67 before quickly falling back to around $23.55. Currently, the short-term moving average MA7 has crossed above MA30, forming a golden cross, indicating that there is still rebound momentum in the short term, but there is obvious resistance above. At the same time, the MA100 moving average is near $25, forming significant resistance.
In the 1-hour chart, LINK's price has adjusted from a high position but still maintains above MA30 ($22.98). Short-term support remains strong, but if it breaks below $23, the price may further test lower levels.
2. Technical Analysis
1. Moving Average System
MA7 and MA30 Golden Cross: In the 4-hour chart, MA7 has crossed above MA30, indicating that short-term rebound momentum is still present.
MA100 Resistance Level: Bulls need to break through $25 (MA100 moving average) to sustain the upward trend.
2. Bollinger Bands
1-Hour Chart Bollinger Bands: The current middle band of the Bollinger Bands is around $23.55, with the price hovering near the middle band, indicating possible short-term volatile adjustments.
Upper Band Resistance: The upper band of the Bollinger Bands is around $24.5, and the lower band support is at $22.8. The expected trading range today is $22.8 - $24.5.
3. MACD Indicator
MACD Golden Cross Confirmation: The 1-hour chart shows that after the MACD indicator formed a golden cross, the histogram's positive value is shortening, indicating weakened upward momentum and potential pullback pressure.
4-Hour Chart Bearish Slowdown: The MACD on the 4-hour chart is still below the 0 axis, but bearish momentum is weakening. Future attention should be paid to the possibility of a golden cross forming.
4. Trading Volume
Yesterday, selling pressure was heavy at high levels, and the trading volume did not effectively increase, indicating weak rebound strength. If today's trading volume cannot exceed the recent average, the price is likely to remain volatile.
3. Today's Trading Recommendations
Based on the above technical analysis, today's trading strategy for LINK is mainly to short at highs and long at lows, focusing on the range fluctuations of $23.0 - $24.5.
Short Position Suggestions:
Entry Range: $24.2 - $24.5
Stop Loss Level: $25
Target Level: $23.3 (First Take Profit), $22.8 (Second Take Profit)
Long Position Suggestions:
Entry Range: $22.8 - $23
Stop Loss Level: $22.5
Target Level: $23.8 (First Take Profit), $24.2 (Second Take Profit)
4. Summary and Forecast
From a short-term trend perspective, LINK's rebound momentum is gradually weakening. If it cannot break through the $24.5 resistance today, the price may continue to pull back to $23 or even $22.8.
If trading volume increases and the price stabilizes above $24, consider establishing short-term long positions, targeting around $24.5.
Today, focus on the support strength at $23.0 and the resistance range at $24.5. A breakout or drop will bring a new directional trend.
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