LINK Daily – Watching the Retrace
LINK on the daily just got rejected from the 50MA, confirming it as short-term resistance.
The next key support sits around the 0.618 Fibonacci level, which also marks the origin of the last bounce that was rejected at the 50MA.
From a system perspective, the current structure reads:
Price < BB Center (orange) < SMA < MLR10 — indicating a short-term downtrend.
However, on the long-term view, price remains above the 200MA, meaning the broader uptrend is still intact.
At this stage, LINK needs a daily close above the BB Center to regain short-term momentum and open the path for recovery.
With Q4 underway and the narrative in the US shifting in favor of crypto, LINK could soon find conditions for continuation once the local structure stabilizes.
Bias:
Neutral-bullish: short-term pressure within a long-term bullish structure.
Always take profits and manage risk.
Interaction is welcome.
LINK on the daily just got rejected from the 50MA, confirming it as short-term resistance.
The next key support sits around the 0.618 Fibonacci level, which also marks the origin of the last bounce that was rejected at the 50MA.
From a system perspective, the current structure reads:
Price < BB Center (orange) < SMA < MLR10 — indicating a short-term downtrend.
However, on the long-term view, price remains above the 200MA, meaning the broader uptrend is still intact.
At this stage, LINK needs a daily close above the BB Center to regain short-term momentum and open the path for recovery.
With Q4 underway and the narrative in the US shifting in favor of crypto, LINK could soon find conditions for continuation once the local structure stabilizes.
Bias:
Neutral-bullish: short-term pressure within a long-term bullish structure.
Always take profits and manage risk.
Interaction is welcome.
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.