LINK price battles the $25 mark, how to layout the tug-of-war between bulls and bears?

Market Analysis:

The current price of LINK is $24.86, with a highest of $27.41 and a lowest of $24.75 in the last 24 hours, showing a decline of -4.27%. The daily chart indicates that the price is below the MA(7) moving average, suggesting some downward pressure in the short term. In terms of trading volume, there has been intense contention between bulls and bears in the past two days, indicating that market sentiment remains relatively active.

Support and Resistance Levels:

• First Support Level: $24.00

• Second Support Level: $22.50

• Third Support Level: $21.00

• First Resistance Level: $25.50

• Second Resistance Level: $26.50

• Third Resistance Level: $28.00

Short-term Trading Strategy:

1. Long Position Strategy:

• Entry: Enter long positions when the price retraces to around $24.00.

• Take Profit: $25.50.

• Stop Loss: $23.50.

2. Short Position Strategy:

• Entry: Enter short positions when the price rebounds to around $26.50.

• Take Profit: $25.00.

• Stop Loss: $27.00.

In the short term, LINK may oscillate within the $24-$26 range, waiting for market sentiment to become clearer. If the bulls can effectively break through the $26.50 resistance level, they may challenge the high points above $28 again.

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