$LINK

🔗 LINK has recently been a bit powerless, and the bulls failed to break through the key resistance at $16, resulting in a strong push from the bears back to the moving average.

✅ Bullish Scenario: Can it pull up again?

Currently, the 20-day moving average ($14) is still slowly rising, but the RSI has already fallen back to the middle position, indicating that the bulls' momentum is somewhat weakening.

However, as long as the price can strongly rebound from the moving average, the bulls still have a chance to challenge the upper line of the descending channel, which would be equivalent to 'breaking free from the cage'!

❌ Bearish Scenario: Chain-like decline?

If LINK cannot even hold the moving average and directly breaks below the $14 support, that could be a signal for the bulls to surrender.

Next, we will look for a drop to $11.66, where there may be a new round of buying.