LINK/USDT Long-Term Trend: Bearish
Key Resistance Levels: 26.42, 27.51, 30.00
Key Support Levels: 24.47, 22.90, 20.82
The asset on the daily time frame managed to break out of the wedge formation to the downside. We are about to see a reversal in the price of Chainlink coin where a move downward might begin.
LINK/USDT Medium-Term Trend: Bearish
On the 1-hr time frame, the price is trading inside a descending channel formation. A higher correction is expected to the previous key level which coincides with the 61.80% Fibonacci retracement level. This could lead to a move downward to the 24.47 USDT level.
Sell Limit Order @ 26.25
TP 1 @ 24.47
TP 2 @ 22.90
Stop Loss @ 27.13
Trade Safely 🙂