LINKUSDT.P has been trapped inside a descending channel and is now sitting on a key support zone around $12.60 - $12.75. The market is at a critical decision point—will we see a reversal or a deeper breakdown? 🔍 Key Technical Insights:
📉 Descending Channel: LINK has been in a bearish trend, making lower highs.
💧 Liquidity Hunt: Price may sweep below support to trigger stop losses before reversing. It has already been attempted once and again rebounded.
🏦 Order Block Zone: The previous accumulation area (Sept-Nov) could act as strong support.
⚠️ Breakdown Risk: A clean close below $12.60 could open doors to $10 or lower.
📌 What to Watch?
🚀 Bullish Scenario: If the price wicks below support but reclaims it, expect a rally toward $15+. If the price breaks above 15$ hopefully it'll continue further the bullish movement
⚠️ Bearish Scenario: A confirmed breakdown of $12.60 could signal further downside.
🔥 Will LINK bounce from this high-liquidity zone, or are we heading for lower lows? Drop your thoughts below!👇
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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.