$LINK /USDT

Price is trading around $16.97, showing continued short-term weakness after rejection from the $17.50–$17.60 resistance area. Momentum remains bearish with consistent lower highs and pressure building near the $16.80 support zone.

Setup:

Entry: $16.95–$17.05 (current retest zone)

Targets:

TP1: $16.75 (recent low and liquidity zone)

TP2: $16.50 (next major support)

TP3: $16.20 (extension target if breakdown continues)

Stop Loss: $17.20 (above minor 15M resistance)

Analysis:

LINK failed to hold above $17, confirming short-term bearish momentum. The market is forming a descending pattern with sellers defending every bounce. A clean break below $16.80 could accelerate downside momentum toward $16.50. Volume remains moderate, suggesting controlled distribution rather than panic selling.

Bias: Short-term bearish while below $17.20.

Reversal confirmation only if price reclaims and sustains above $17.40 with volume.