$LINK /USDT Analysis: Dips Toward Support — Key Decision Point for Bulls
Chainlink (LINK) is trading at $16.19 (-4.93%), pulling back from the 24h high of $17.07 as short-term weakness drags the price below the MA(7) and closer to critical support levels. Despite the decline, trading remains active with USDT volume at $50.14M.
Moving Averages Breakdown:
MA(7): $16.37 → lost intraday, now resistance
MA(25): $17.49 → medium-term bearish confirmation
MA(99): $15.17 → next strong support zone
Support Levels:
Immediate: $16.08 (24h low)
Stronger: $15.17 (MA99)
Deeper: $14.58, then $12.53–$10.94 range if sell-off accelerates
Resistance Zones:
$16.37 (MA7) → needs reclaim for bullish reset
$16.64–$17.07 → short-term resistance range
$18.69–$20.75 → breakout zone if momentum returns
Indicators (Implied):
MACD: Bearish crossover likely underway
RSI: Approaching oversold territory – bounce potential rising
Bollinger Bands: Likely widening → increased volatility expected
Bias: Bearish short-term, neutral-to-bullish long-term above $15.17
Bulls must defend the $15.17–$16.00 zone
A break below MA(99) could trigger a slide toward $14.50
Verdict:
LINK is near a critical support test at $15.17. If held, it may provide a base for a rebound toward $17+. Otherwise, prepare for possible retracement to the $14–$12.5 range. Wait for a reversal signal before considering fresh longs.
