Here's the deal with Chainlink, the crypto we know as LINK: it seems that after a good spike, things turned uphill and now it's tangled in a fight to avoid falling further. It’s a serious matter!

Imagine LINK jumped 22%, like a rocket! 🚀 But just when people were celebrating, those betting on the price going down (the "bears" or "short sellers", as we call them here) came out in full force and put a brake on it. It turns out that LINK's price hit a resistance that is like an invisible wall, the 200-day EMA, and also a downward trend line. Pure signals that the situation could turn around! 📉

The case is that LINK's price couldn’t break through that barrier of $16. If it doesn’t break that ceiling, folks, we need to stay alert! Because the risk of it continuing to drop is high. In the last 24 hours, LINK has already fallen 5.25%, and at the time of writing this, it was around $14.40. Can you imagine? People are not showing much interest, and the trading volume, which is like the gossip meter of how much is moving, decreased by 11%! Even the active addresses, which are people using the crypto, dropped by 13%! 📉👥

And here comes the spicy detail, the one that makes us think: those betting on the downside (the "shorts") are increasing! This means both serious investors and quick traders are smelling that LINK is going to keep falling! 🐻💸

According to CoinGlass experts, the key points where people have the most money at stake are $14.25 (acting as a support floor) and $15.77 (acting as a resistance ceiling). If LINK continues to go down and hits $14.25, hold on tight! Because a lot of positions are going to be liquidated, almost $2.90 million in "long" bets (those that expect it to go up). But if the situation reverses and LINK rises to $15.77, oh boy! $15.37 million in "short" positions would be liquidated. That’s a fortune! 🤑

And what does this tell us? That people have more faith in LINK going down than up, at least for now. It seems they see it as more likely not to surpass $15.77.

Technically speaking, LINK has hit and bounced off that downward trend line and the 200-day EMA several times. It’s as if every time it tries to lift its head, wham!, it gets hit back down. If it can’t turn that $15.77 into solid support, things could get uglier and LINK could drop another 10%, reaching as low as $12.70! 😱

So, my people, we need to stay alert to this LINK saga! We’ll see if the bulls (those who want it to go up) put in the effort and rescue it, or if the bears drag it down further. This is heating up! 🔥$LINK