Bottom line: LINK clearly had a pullback day yesterday, and the bulls failed to catch the fall.
Market data: Current price 10.23, down 4.75% over 24 hours; trading volume 16 million USDT; intraday high 10.81, low 10.13; range 6.8%.
The current price is near the bottom of the range (15%), and momentum weakened noticeably toward the close. This is where prices are most likely to keep probing lower.
The price has fallen below the 7-day moving average (10.79) and is below the 25-day moving average (11.47), so the short-term structure has weakened.
In terms of positioning, the price is down 24.2% from the 30-day high of 13.51. The 30-day low is 10.13, and the 7-day change is -8.0%.
Volume is close to the 7-day average, indicating typical turnover.
The key levels are clear: 10.81, the intraday high, is resistance above; 10.13 is the short-term support below. A break below the latter would truly open up more downside.
Keep an eye on two things next: whether the funding rate continues to deviate, as overheated sentiment often precedes a pullback; and whether a low-volume basing pattern appears on the 4-hour chart.
Where are you placing your take-profit and stop-loss orders? Share your answer in the comments.
(The above is a review of market activity and does not constitute investment advice. Futures trading involves risk.)
#LINK #技术分析 #FuturesTrading
Market data: Current price 10.23, down 4.75% over 24 hours; trading volume 16 million USDT; intraday high 10.81, low 10.13; range 6.8%.
The current price is near the bottom of the range (15%), and momentum weakened noticeably toward the close. This is where prices are most likely to keep probing lower.
The price has fallen below the 7-day moving average (10.79) and is below the 25-day moving average (11.47), so the short-term structure has weakened.
In terms of positioning, the price is down 24.2% from the 30-day high of 13.51. The 30-day low is 10.13, and the 7-day change is -8.0%.
Volume is close to the 7-day average, indicating typical turnover.
The key levels are clear: 10.81, the intraday high, is resistance above; 10.13 is the short-term support below. A break below the latter would truly open up more downside.
Keep an eye on two things next: whether the funding rate continues to deviate, as overheated sentiment often precedes a pullback; and whether a low-volume basing pattern appears on the 4-hour chart.
Where are you placing your take-profit and stop-loss orders? Share your answer in the comments.
(The above is a review of market activity and does not constitute investment advice. Futures trading involves risk.)
#LINK #技术分析 #FuturesTrading