š$LINK LINK/USDT: A -6.90% Decline ā Support in Sight?
Chainlink (LINK/USDT) is currently trading at $21.44, experiencing a notable drop of -6.90% in the last 24 hours. Letās dive into whatās driving this movement and what traders should watch next:
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š„ Key Metrics
š° Current Price: $21.44
š 24h High: $23.67 ā A resistance level tested before the decline.
š» 24h Low: $21.21 ā Immediate support zone currently in focus.
š 24h Volume:
5.11M LINK traded
$114.55M USDT in liquidity
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š Technical Analysis
š Trend: Short-term bearish with LINK trending downward after failing to sustain above $23.50.
š Support Levels:
$21.20 ā Immediate support to watch for potential recovery.
š Resistance Levels:
$22.50ā$23.00 ā Needs to be reclaimed for a bullish reversal.
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š” Trading Insights
1ļøā£ Short-Term Strategy:
Look for buying opportunities near $21.20ā$21.50 if support holds.
Target $22.50ā$23.00 for a short-term recovery.
2ļøā£ Risk Management:
Use stop-loss orders below $21.00 to protect against further declines.
3ļøā£ Long-Term Outlook:
LINKās macro fundamentals remain strong. This pullback could offer a buying opportunity for long-term holders targeting $25+.
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š¬ Will LINK rebound from $21.20, or are lower levels ahead? Share your thoughts and strategies below!