⚠️ $LINK Potential Breakdown Alert!
$LINK is showing signs of weakness after failing to hold key support levels. A rejection from the $17.80 zone with rising sell volume indicates a potential short-term bearish trend forming on the 1H chart.
🔍 Resistance and Support
• Resistance: $17.85
• Support: $16.40
📉 Short Setup
• Entry Zone: $17.55 – $17.85 (ideal for short positions)
• Stop Loss: $18.10 (above recent swing high)
🎯 Bearish Targets
🎯 TP1: $16.90
🎯 TP2: $16.20
🎯 TP3: $15.60
🧠 Market Insight
$LINK has been unable to maintain upward momentum and is now testing lower support zones. The recent rally faced exhaustion, and if broader market weakness persists (especially from BTC/ETH), LINK may retrace deeper toward $16 and below. RSI divergence and volume tapering add confluence to the bearish case.
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