Negative Trend in Falling Channel: LINK price exhibits a bearish cycle within a falling channel pattern.
Formation of Three-Black Crow Pattern: Recent price action in LINK shows a bearish three-black crow pattern, signaling potential downside.
Risk of Bearish Breakdown: Potential breakdown may plummet LINK price to $12 support.
Market Correction Impact: LINK's price is influenced by the broader market correction, fueling a bearish trend.
Bullish Struggle at $17: Repeated failure to breach the $17 resistance level is leading to repeated price drops.
Bearish Pressure at 50-Day EMA: LINK's price is testing the crucial support of the 50-day EMA.
Technical Indicator - EMA: LINK's market cap at the 50-day EMA indicates a struggle for stability.
MACD Indicator on Edge: The MACD nearing a bearish crossover, indicating a potential trend reversal.
Bear Phase Survival Uncertain: LINK's current price movement within the bearish channel raises questions about its ability to withstand a prolonged bear phase.
Possible Channel Breakdown: A breakdown from the current channel could significantly lower LINK's price.
Key Support Levels to Watch: Close observation of the $12 and $17 levels is crucial for determining future price action.
Reversal Possibilities: Any bullish reversal from current levels might lead to retesting overhead resistance levels.
Formation of Three-Black Crow Pattern: Recent price action in LINK shows a bearish three-black crow pattern, signaling potential downside.
Risk of Bearish Breakdown: Potential breakdown may plummet LINK price to $12 support.
Market Correction Impact: LINK's price is influenced by the broader market correction, fueling a bearish trend.
Bullish Struggle at $17: Repeated failure to breach the $17 resistance level is leading to repeated price drops.
Bearish Pressure at 50-Day EMA: LINK's price is testing the crucial support of the 50-day EMA.
Technical Indicator - EMA: LINK's market cap at the 50-day EMA indicates a struggle for stability.
MACD Indicator on Edge: The MACD nearing a bearish crossover, indicating a potential trend reversal.
Bear Phase Survival Uncertain: LINK's current price movement within the bearish channel raises questions about its ability to withstand a prolonged bear phase.
Possible Channel Breakdown: A breakdown from the current channel could significantly lower LINK's price.
Key Support Levels to Watch: Close observation of the $12 and $17 levels is crucial for determining future price action.
Reversal Possibilities: Any bullish reversal from current levels might lead to retesting overhead resistance levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.