#LINK Daily Analysis
1. Trendline Resistance: The price is still operating below the descending trendline (blue) and has not yet broken through.
2. Short-term Fluctuation: The candlestick is fluctuating near the trendline, showing signs of a tentative breakout, but further confirmation is still needed.
3. Potential Breakout Signal: If the subsequent candlestick's body breaks through and stabilizes above the trendline, a larger-scale upward trend may be expected.
4. Target Area: If the breakout is successful, it may challenge the $24 area (red resistance zone), with a potential increase of about 68.56%.
5. Trading Volume: Current trading volume has not significantly increased; attention should be paid to the trading volume and price breakout situation.
Conclusion
Currently, LINK remains at a key pressure point in the downward trend, with a risk of retreat before breaking through. It is recommended to monitor the daily closing conditions and changes in trading volume; if there is a breakout with increased volume, it may initiate a new round of upward movement; otherwise, caution should be exercised against false breakouts and retreats.