Key Support Under Test
LINK has followed the wider market lower and is now testing an important support area around $10.87. This level previously acted as resistance before the recent breakout.
Trend Still Favours the Bulls
Despite the pullback, price remains above the bullishly crossed 100/50-day EMAs, with both averages continuing to slope higher. The broader daily structure therefore remains constructive.
Momentum Has Cooled
RSI has fallen back towards the 50 level, while StochRSI is now oversold. This shows how much short-term momentum has cooled during the pullback.
Volume Needs Watching
Buying volume has decreased as price has moved back towards support. A noticeable pickup in buying from this area would give bulls more confidence that the pullback is running out of steam.
Recent Highs Remain in Play
If buyers can defend the current support zone, there is relatively little obvious resistance before the recent $13.69 swing high. Lose this area decisively, however, and the next meaningful support sits around $8.92.
In Summary
LINK has reached an important test around $10.87 after pulling back from its recent highs. The bullishly crossed and rising 100/50-day EMAs keep the broader picture constructive, but buyers now need to defend support. StochRSI is oversold, although buying volume has been declining. If support holds and demand returns, the $13.69 high could come back into play; a decisive breakdown would instead shift attention towards $8.92.
LINK has followed the wider market lower and is now testing an important support area around $10.87. This level previously acted as resistance before the recent breakout.
Trend Still Favours the Bulls
Despite the pullback, price remains above the bullishly crossed 100/50-day EMAs, with both averages continuing to slope higher. The broader daily structure therefore remains constructive.
Momentum Has Cooled
RSI has fallen back towards the 50 level, while StochRSI is now oversold. This shows how much short-term momentum has cooled during the pullback.
Volume Needs Watching
Buying volume has decreased as price has moved back towards support. A noticeable pickup in buying from this area would give bulls more confidence that the pullback is running out of steam.
Recent Highs Remain in Play
If buyers can defend the current support zone, there is relatively little obvious resistance before the recent $13.69 swing high. Lose this area decisively, however, and the next meaningful support sits around $8.92.
In Summary
LINK has reached an important test around $10.87 after pulling back from its recent highs. The bullishly crossed and rising 100/50-day EMAs keep the broader picture constructive, but buyers now need to defend support. StochRSI is oversold, although buying volume has been declining. If support holds and demand returns, the $13.69 high could come back into play; a decisive breakdown would instead shift attention towards $8.92.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.