🔵On July 2, LINK briefly broke through the 20-day moving average of 13.32 USD, but the 50-day moving average of 14.09 USD became a roadblock, resulting in long positions returning empty-handed, indicating that short positions were in full force at high levels.

⚠️Key short-term trend:

Currently, LINK is pulling back and there is a risk of dropping towards the key support level of $12.73.

If 12.73 dollars cannot be held, it may trigger a deeper pullback, with a target directly pointing to 11 dollars.

But if the long positions can launch a strong counterattack near $12.73, they will challenge $14.09 again. After breaking through, they are expected to surge to $15.66, or even $18!

📉Key observations on the 4-hour K-line:

The K-line shows that LINK has failed to hold above the resistance line, with short positions clearly suppressing at high levels, trying to harvest the aggressive long positions that chased the price up.

Currently, long positions are attempting to rebound at the $12.927 level. If the rebound is effective and can strongly stand above $14.10, it will open up space to attack $15.77.

On the contrary, if it fails to hold and closes below $12.73, it may trigger an accelerated decline, further looking towards $11.50. #LINK