📉 Pair $LINK/USDT - Bearish Rejection from Resistance Zone

The pair $LINK failed to maintain the primary resistance area near $19.50, indicating a clear weakness with a decline in momentum, especially as the price of $BTC stabilizes below critical levels. The price is currently moving within a short-term descending channel on the four-hour timeframe.

If the price of $BTC continues to decline, it is expected that the price of $LINK will experience further declines in the short term.

---

🔻 Short Entry Zone:

$19.00 - $19.50

🎯 Take Profit Targets (TP):

1. $18.70

2. $18.40

3. $18.10

4. $17.80

5. $17.50

❌ Stop Loss (SL):

$19.90

---

📊 Technical Indicators:

The Relative Strength Index (RSI) on the four-hour timeframe is declining from the overbought area.

Reversal candles are forming near the resistance level.

Moving averages show a bearish crossover.

Trading volume is declining, supporting the weakness in momentum.

⛓️ Note: If the $BTC pair breaks the support level of 116,000, it may also reinforce the bearish trend of the pair $LINK

#BTCvsETH #ETHBreaks3700 #LINK #StablecoinLaw #NFTMarketWatch