LINK Technical Outlook
On the LINK side, the price has been moving within a descending channel for a long time, and with the latest structure, this channel has also turned into a wedge-like descending formation. Especially the recent upward attempts weaken as the price approaches the upper band of the channel and face selling pressure. This shows that there is still no clear breakout and the structure remains under pressure.
In the short term, the 13.1–13.3 band is an important balance zone. The price is currently trying to hold just above this region. If dips below this level increase, 12.5 and then the 12.0–11.6 region come back into play. Since this area has previously produced strong reactions, it serves as the main support on the downside.
On the upside, eyes are clearly on the 13.9–14.2 band. This region corresponds to both the upper trend of the descending channel and the wedge. If LINK can break this area with volume, the structure breaks and the short-term downtrend begins to end. In such a scenario, first 14.8, and then 15.5–16.0 become more achievable price zones.
These analyses, which do not provide investment advice, focus on support and resistance levels that are thought to create short- and medium-term trading opportunities depending on market conditions. However, the responsibility of trading and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop loss for the positions shared.
