XLM and LINK continue to weaken as insufficient market buying pressure weighs on prices
Recently, Stellar（#XLM ）and Chainlink（#LİNK ）have both seen significant declines, reflecting insufficient market demand and buyers’ current reluctance to enter the market.
XLM has fallen to around $0.14, returning to the lows seen in May this year, indicating that its earlier gains are gradually being erased. The RSI remains weak, and the gap between short-term moving averages is widening, suggesting that the downtrend has yet to ease. However, if the moving averages gradually converge, market volatility could increase, and a short-term rebound cannot be ruled out.
LINK’s performance is even weaker. Its price has fallen below $10 and the 200-period moving average, and is currently hovering around $9.89. The $8.20 support level is worth watching; if it gives way, the price could fall further to $7.
Although LINK’s RSI is nearing oversold territory, this does not mean the price will necessarily rebound right away. Whether it can resume its upward trend will still depend on buying pressure returning and liquidity flows across the broader crypto market improving.
Recently, Stellar（#XLM ）and Chainlink（#LİNK ）have both seen significant declines, reflecting insufficient market demand and buyers’ current reluctance to enter the market.
XLM has fallen to around $0.14, returning to the lows seen in May this year, indicating that its earlier gains are gradually being erased. The RSI remains weak, and the gap between short-term moving averages is widening, suggesting that the downtrend has yet to ease. However, if the moving averages gradually converge, market volatility could increase, and a short-term rebound cannot be ruled out.
LINK’s performance is even weaker. Its price has fallen below $10 and the 200-period moving average, and is currently hovering around $9.89. The $8.20 support level is worth watching; if it gives way, the price could fall further to $7.
Although LINK’s RSI is nearing oversold territory, this does not mean the price will necessarily rebound right away. Whether it can resume its upward trend will still depend on buying pressure returning and liquidity flows across the broader crypto market improving.