$LINK Facing Resistance – Bearish Setup Developing
$LINK #/USDT is trading at $16.04 (+1.01%), but signs point to exhaustion as it struggles beneath a descending trendline and key resistance at $16.20 – $16.40. Price remains inside a bearish channel, suggesting downside pressure.
Bearish Signals:
• Repeated rejection near $16.20 resistance
• Lower highs forming beneath descending trendline
• Range-bound below $16.40 with weak breakout attempts
If price fails to break and hold above $16.20, a rejection could push LINK down toward support at $15.80, with extended downside potential near $15.60.
Short Bias Active – Watch for Breakdown Below $15.80