- The market structure of the chain link was still optimistic, but it threatened that the price was low when the demand was weakened.
- Liquidity of less than $ 15 can lead to a 7%link modification.
ChainLink (link) violated six weeks of resistance on May 8, but follow -up measures were overwhelming.
Since then, it steps on the water at $ 15.5 at the same previous resistance level. In the second half of May, the death penalty between $ 14.84 and $ 18 could not rise decisively.
The rest of the Altcoin market was also trapped in DOLDRUMS from May 10. In the previous report, Chainlink showed high development activities.
If you look closely at the warm-chain metrics, the holder shows that it is happy to benefit from 16- $ 18. We decided to sell links because more stakes in more than $ 15 have gained profits.
At the same time, demand has slowed. In this scenario, I could understand that the chain link could not be rally.
Price behavior according to Breakout SAPS connects the spirit of Bulls.
Source: Link/USDT of TradingView
In the daily chart, the link refused $ 17.42 and formed a low structure.
After testing the resistance in early May, ChainLink formed the same lowest as the lower highest point of triangle pattern. OBV has been lowered over the last three weeks.
In fact, the previous analysis showed sales pressure based on the average coin age indicators, and did not change.
Probability RSI formed the bottom and the RSI re -tested the neutral 50, but the market weakened.
This would have seen the link again in the range. And it’s as deep as the mid -range support of $ 13.2.
Source: COINGLASS
The one -month liquidation heat map of the chain link emphasized its own area at $ 14.8. If this liquidity cluster is tested, the expected link to the link in the future is close to 8%.
To the north, the highest level of $ 17.3 has a significant amount of liquidation. Due to the lack of demand for chain links, price drops have emerged.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.