LINK/USDT: Watching for a Breakout or Further Correction?
The LINK/USDT chart shows some interesting movements over the past few days. After hitting a high around $14.07 on July 3rd, we've seen a noticeable pullback, with the price currently hovering around $13.07.
The moving averages (MA7, MA25, MA99) are converging, suggesting a potential shift in momentum. The price has dipped below the shorter-term MAs, indicating some bearish pressure. The volume has also seen some fluctuation, with a recent pick-up on the downside.
Prediction: Given the recent downtrend from the local high and the current position relative to the moving averages, LINK/USDT could see further downside testing support levels around the $12.90 - $12.70 range in the short term. However, if buyers step in and push the price back above the converging MAs, especially the MA25, we could see a retest of the $13.50-$13.80 resistance area. Keep an eye on the volume for confirmation of any significant moves.
Key levels to watch:
* Support: $12.90, $12.70
* Resistance: $13.30 (MA99), $13.50, $13.80