LINK Update — Positive Signs, Yet It Needs To Break $16 ‼️

Chainlink (LINK) recently broke out of a downtrend that started at the end of May. However, so far, the token hasn't followed through on the positive momentum.

Conversely, despite the outbreak, LINK still trades below the EMA200 and has a crucial resistance of $16.

The bulls need to break through both of those lines to initiate a strong upward move. Otherwise, a retest of $13 becomes likely.

Regarding a trade setup, I would avoid long trades before LINK is back above the 16-mark and the EMA200.

$LINK #LINK🔥🔥🔥