chainlink $ 14.25 support as it fights the link on 2 fronts star-news.press/wp

• Chainlink decreased by 5.25 % after a declining pattern was formed near EMA for 200 days and hending trendline.
• A clean break is needed over $ 16 to change the momentum; Until then, negative risks are still high.

Chainlink (Link) showed signs of fatigue after a 22 % mobilization, with sellers in the nearby main resistance areas.

Although high levels are restored, the price failed to collapse over the 200 -day SIA moving average (EMA), which constitutes a huge structure that alludes to a possible reflection.

5 % decrease with the withdrawal of merchants

Over the past 24 hours, the link decreased by 5.25 %, and trading about $ 14.40 at the time of the press.

During this period, investors and merchants showed lack of interest in assets, which led to a 11 % decrease in trading volume.

The data on the InTotheblock series revealed a 13 % decrease in the daily active addresses, indicating the enlarged user activity.

The bets also increased on short positions during the same period, indicating that both merchants and investors may prepare for passive momentum.

As of the writing of these lines, the main liquidation levels were at $ 14.25 on the underside (support) and $ 15.77 on the upper side (resistance), with the increase in the number of merchants at these levels, according to the analysis company on the series Coinglass.

Source: Coinglass

The data revealed that if the feelings remain unchanged and the price continues to decrease towards the level of $ 14.25, approximately $ 2.90 million from the long positions will be filtered.

On the contrary, if the morale turns and the price rises to $ 15.77, approximately $ 15.37 million of short centers will be filtered.

Clearly, the capital was more accumulated than LINK than it was in its favor. Traders seem confident that the original will not violate the ceiling of $ 15.77 – at least at the present time.

Chainlink indicates a correction

From a technical point of view, LINK faced a consecutive rejection of the raised direction line and EMA for 200 days.

Source: TradingView

Each gathering towards these areas sparked a highly slope sale, which constitutes a series of textbooks from the highest levels.

This third rejection, which is now revealing, is in line with historical work. If LINK fails in the heart of $ 15.77 to support, then another 10 % withdrawal can withdraw Altcoin to $ 12.70.