$LINK This suggests a bearish outlook in the short term, but the RSI and support level near $15.43 could indicate a potential bounce if buying interest increases.

⏺️LINK/USDT on a cryptocurrency exchange, with the current price at $15.85, reflecting a 2.22% decrease. Key observations:

⏺️Price Trend: The chart indicates a recent downward trend, with the price breaking below a descending trendline (pink line) and the 50-period moving average (yellow line).

⏺️🔵Support/Resistance Levels: The price is near the support level of $15.43 (24h low) and below the recent high of $16.25. The Bollinger ⏺️Bands suggest a potential oversold condition (lower band at $15.04).Volume: 24-hour trading volume is 2.65M LINK or $41.97M USDT, with a recent spike in volume on the downward move.

RSI (Relative Strength Index): At 35.19, the RSI is approaching oversold territory (<30), hinting at a possible reversal or continued downward pressure.

Moving Averages: The 5-period MA (363.17) is below the 10-period MA (592.84), confirming a short-term bearish trend.