$LINK /USDT chart, the recent price action presents an interesting juncture.
While the dip below the moving averages catches the eye, it's worth noting the established resistance around the $16.70 mark, suggesting a potential area of consolidation or a possible challenge for bulls to overcome.
The recent strong bearish candle certainly warrants attention, hinting at a shift in momentum that could lead to further testing of support levels.
It will be insightful to see how price interacts with these levels in the near term.
