📊 ANALYSIS $LINK : HOLD SUPPORT OR DROP TO $7.9?
Chainlink (LINK) is at a crucial threshold. The current price structure shows a fierce tug-of-war between bulls and bears.
1. Bearish Scenario (Price Drop) 😪
• Status: The price is trading below key MA lines, confirming selling pressure is dominant.
• Key support zone: $10.94. If this level is breached, selling pressure could push LINK down to the old low of $7.90 (a ~25% drop).
2. Bullish Scenario (Recovery)🚀
• Condition: A strong buying force is needed at $10.94 to create upward momentum.
• Confirmation of reversal: Only if LINK closes above $15.00, the uptrend will truly return.
• Target: $16.80.
💡 Trading strategy:
• Watch: Price reaction at $10.94.
• Risk management: Tight stop-loss if the price loses the hard support level. Prefer to wait for a breakout signal above $15 to optimize safety.
What do you think? Will LINK bounce back from $10.94 or find its way back to the old low? 👇
#LINK #Chainlink #TechnicalAnalysis #CryptoTrading #BinanceSquare
