$LINK bounced back from around 11.2, so I’m still leaning short for now 😂
The current price is hovering around $11.74, up about 1.5% over the past 24 hours. Based on daily closes, it’s still down about 1.9% over the past 7 days. The two-week low is around 11.2 and the high is around 12.81. Today it dipped to about 11.29 before bouncing back to 11.74; it briefly reached 12.02 before pulling back.
The short-term moving averages are around 11.64 and 12.17. The current price has just moved above the MA7 but remains below the MA20. First, watch the moving-average resistance around 12.17, with 12.5 to 12.8 above that. To the downside, watch 11.4 first, then the two-week low area around 11.2. In the derivatives market, 24-hour trading volume is about 150 million U, while spot volume is about 22.7 million U, so the market isn’t dead. The setup is a weak rebound below the moving averages, with a little volume behind it, but there’s no clear sign of a bullish reversal yet.
For now, I’m bearish on $LINK . This looks more like a rebound from a low; don’t rush to call it strong unless it can get back above 12.17.
Beginners should watch more and trade less. If you’re buying crypto, stick to $BTC .
The current price is hovering around $11.74, up about 1.5% over the past 24 hours. Based on daily closes, it’s still down about 1.9% over the past 7 days. The two-week low is around 11.2 and the high is around 12.81. Today it dipped to about 11.29 before bouncing back to 11.74; it briefly reached 12.02 before pulling back.
The short-term moving averages are around 11.64 and 12.17. The current price has just moved above the MA7 but remains below the MA20. First, watch the moving-average resistance around 12.17, with 12.5 to 12.8 above that. To the downside, watch 11.4 first, then the two-week low area around 11.2. In the derivatives market, 24-hour trading volume is about 150 million U, while spot volume is about 22.7 million U, so the market isn’t dead. The setup is a weak rebound below the moving averages, with a little volume behind it, but there’s no clear sign of a bullish reversal yet.
For now, I’m bearish on $LINK . This looks more like a rebound from a low; don’t rush to call it strong unless it can get back above 12.17.
Beginners should watch more and trade less. If you’re buying crypto, stick to $BTC .
