The new growth trend of the LINK market, which started on December 24, is now being tested for strength. Approximation of the LINK price to historical high and the test of the $18.43 mark provoked the beginning of the correction.
Now sellers are testing the local level of $14.13. Throughout December, this mark was a problem for buyers. It is the fixing of the price above the mark of $14.13 that buyers were able to update the local high.
The sharp drop in prices on increased volumes on January 10 shows the prospect of breaking this mark down.
The critical point of the buyer trend is in the range of $12.7-13. By keeping this range, buyers will prove their strength and increase the chances of continuing the trend.
P.S. The weekly timeframe shows how buyers kept the price in the range of $12.7-13 for 4 weeks. Loss of this range will send the price in the consolidation range of $10.5-13 for a long time.
_______________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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Now sellers are testing the local level of $14.13. Throughout December, this mark was a problem for buyers. It is the fixing of the price above the mark of $14.13 that buyers were able to update the local high.
The sharp drop in prices on increased volumes on January 10 shows the prospect of breaking this mark down.
The critical point of the buyer trend is in the range of $12.7-13. By keeping this range, buyers will prove their strength and increase the chances of continuing the trend.
P.S. The weekly timeframe shows how buyers kept the price in the range of $12.7-13 for 4 weeks. Loss of this range will send the price in the consolidation range of $10.5-13 for a long time.
_______________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
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