📉 $LINK/USDT – Bearish Rejection From Resistance Zone
$LINK has failed to hold the key resistance area near $19.50, indicating clear weakness with declining momentum, especially as $BTC has stalled below critical levels. The price is currently moving within a short-term descending channel on the 4-hour timeframe.
If $BTC continues to decline, $LINK is poised for further declines in the short term.
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🔻 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
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📊 Technical Indicators:
4H RSI is retreating from the overbought zone
Reversal candlesticks are forming near resistance
Moving averages are showing a negative crossover
Volume is declining, supporting weak momentum
⛓️ Note: If $BTC breaks the 116,000 support, it could also reinforce the downtrend for $LINK
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