Let's start with the fact that has fully worked out.
The wave of growth from December 23 is under serious threat. Buyers for 2 months confidently kept the price of LINK. Starting from February 7, the LINKUSDT price began to interact closely with the black trend line. In addition, local highs are not as aggressively updated as, for example, in the period from 6 to 23 January. This is a sign of weakness of buyers.
After an unsuccessful attempt by buyers to consolidate above the liquid range of $34-35, sellers took the initiative. At the moment, sellers have managed to break the trend line, which buyers kept for 2 months:
If buyers can keep the price in the local range of $30.6-31.2, we will expect a price rebound to $34-35. That's when it becomes clear what to expect from LINKUSD.
Keeping this range, sellers will continue to drop prices to $27.5. From this point, buyers will still be able to try to continue the growth trend.
The negative scenario will take effect if buyers do not keep $27.5. in this case, the price will fall sharply to $20.
Therefore, we expect a rebound for a medium-term decision. ______________________ 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!