After a clear rejection at the 200MA on April 25, LINK is now trading above the 200MA, but has faced rejection at the 50MA.
The green zone represents a key support area that started forming on Feb 3.
✅ MLR > SMA > BB Center, confirming that the bullish structure remains intact.
🔍 Note how the BB center and SMA are now aligned. The last time this happened (see orange zone) was also after a drop, and the recovery only started after price reclaimed the 50MA.(see green circle)
Unless macro headwinds (e.g. tariff war escalation) drag the market down, the key level to watch is the 50MA. A close above it could mark the next leg up. 📈
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Unfortunately, Friday's tariff war escalation triggered a sharp move, and price is now trading below both the green support zone and the 200MA.⚠️ Brace for potential further downside
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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.