Journalist
Posted:
- Link has retained the resilience with a robust demand for dip purchases.
- Does this guarantee an outbreak?
Chain link [LINK] Shows weak signs of recovery after falling to $ 17.30, with the buying of Momentum to get a grip. Increased market -wide FUD continues to weigh on sentiment, leaving a decisive rebound out of reach.
In contrast to other high caps, however, Link has resisted that a deeper correction, with a strong “dip-buying” pressure that is visible on its 1D graph.
Source: TradingView (Link/USDT)
As a fair of link delivery continues to refuse and reach a monthly low point, this reinforces the hypothesis that current consolidation is a precursor for a potential price increase.
Meanwhile, net exchange stream indicated on rising stores retaining, with 2.2 million link recorded at $ 17.80, which drives a price rebound of 1.45%.
If this trend persists, the range of $ 17 – $ 18 could settle as a sturdy support zone, with renewed FOMO accelerating momentum to turn the link/BTC pair bullish.
Is link on the path to recovery?
With Bullish Technicals, strong historical recovery, shop outings and rising FOMO, a rebound to $ 19 resistance seems plausible. However, the real test lies in maintaining this level.
In the last 24 hours have long liquidations surpassed Shorts at 8x, if futures traders are close by, which adds the delivery pressure.
Nevertheless, a dip of 1.65% can indicate a reduced speculation in open interest (OI) – possibly set the stage for a more stable upward trend.
Source: Coinglass
The coming days will be crucial for Link. If speculation overwrites the basic principles, a withdrawal could come to $ 15.
However, if important statistics remain stable and the current price offers support, an outbreak of more than $ 21 can be within reach. View closely.
