Current Price: 8.88 (Analysis was generated on Monday Morning)
Direction: SHORT
Confidence level: 62%(Several professional traders describe a bearish or range-bound structure below the $9.23 resistance, and repeated failures there outweigh mixed social sentiment.)
Targets
Target 1: 8.40
Target 2: 7.55
Stop Levels
Stop 1: 9.23
Stop 2: 9.50
Key Insights:
Here’s what’s driving this trade. Multiple traders describe LINK as being in sideways-to-bearish consolidation, with no impulsive buying pressure. The market keeps reacting to the same ceiling near $9.20–$9.30, which tells me sellers are still in control there. As long as price stays below that level, the path of least resistance remains lower.
What’s interesting is how often downside levels like $7.55 and even $6.90 come up in trader discussions. That doesn’t mean an immediate crash, but it does signal that if support cracks, traders expect momentum to accelerate quickly. For this week, the $8.40 zone is the first area where short-term buyers may try to defend.
Recent Performance:
LINK has been grinding around the high‑$8 range after sharp multi‑month losses. Short-term bounces have lacked follow‑through, and rallies have been sold into quickly. This kind of price action usually shows distribution rather than accumulation, especially when volume doesn’t expand on up moves.
Expert Analysis:
Several professional traders I tracked emphasized that LINK has not confirmed a macro bottom yet. The structure remains bearish unless there’s a clean break and hold above $9.23. Until that happens, traders are treating strength as an opportunity to fade, not chase. From a weekly trading perspective, that keeps shorts favored near resistance with defined risk.
News Impact:
On the news side, developments like futures listings and ETFs are constructive longer term, but price action hasn’t responded in a meaningful way yet. That disconnect matters. When good news doesn’t push price higher, traders often interpret it as a sign that the market is still working through supply.
Trading Recommendation:
Here’s my take. As long as LINK stays below $9.23, I favor a SHORT position targeting $8.40 first and $7.55 if selling pressure picks up. Risk is clearly defined above resistance, and the reward-to-risk makes sense for a short-term trade this week. I’d size conservatively given mixed sentiment, but structurally, sellers still have the edge.
Direction: SHORT
Confidence level: 62%(Several professional traders describe a bearish or range-bound structure below the $9.23 resistance, and repeated failures there outweigh mixed social sentiment.)
Targets
Target 1: 8.40
Target 2: 7.55
Stop Levels
Stop 1: 9.23
Stop 2: 9.50
Key Insights:
Here’s what’s driving this trade. Multiple traders describe LINK as being in sideways-to-bearish consolidation, with no impulsive buying pressure. The market keeps reacting to the same ceiling near $9.20–$9.30, which tells me sellers are still in control there. As long as price stays below that level, the path of least resistance remains lower.
What’s interesting is how often downside levels like $7.55 and even $6.90 come up in trader discussions. That doesn’t mean an immediate crash, but it does signal that if support cracks, traders expect momentum to accelerate quickly. For this week, the $8.40 zone is the first area where short-term buyers may try to defend.
Recent Performance:
LINK has been grinding around the high‑$8 range after sharp multi‑month losses. Short-term bounces have lacked follow‑through, and rallies have been sold into quickly. This kind of price action usually shows distribution rather than accumulation, especially when volume doesn’t expand on up moves.
Expert Analysis:
Several professional traders I tracked emphasized that LINK has not confirmed a macro bottom yet. The structure remains bearish unless there’s a clean break and hold above $9.23. Until that happens, traders are treating strength as an opportunity to fade, not chase. From a weekly trading perspective, that keeps shorts favored near resistance with defined risk.
News Impact:
On the news side, developments like futures listings and ETFs are constructive longer term, but price action hasn’t responded in a meaningful way yet. That disconnect matters. When good news doesn’t push price higher, traders often interpret it as a sign that the market is still working through supply.
Trading Recommendation:
Here’s my take. As long as LINK stays below $9.23, I favor a SHORT position targeting $8.40 first and $7.55 if selling pressure picks up. Risk is clearly defined above resistance, and the reward-to-risk makes sense for a short-term trade this week. I’d size conservatively given mixed sentiment, but structurally, sellers still have the edge.
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.
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.