The encryption market is not strange to the turmoil, and Chainlink (Link) is currently in the storm eye. With the Haboodi forces tightening their grip, prices are dangerously close to the decisive support level test of $ 12.5, a threshold that can determine its fate in the coming days. There are several factors such as installing the sale of the sale and weakness of the broader market that threaten to take out the recovery horizons.
The last recession comes in LINK after a period of monotheism, as it struggled with the origin in order to get ascending momentum. Now, with the price collapse and looking forward to $ 12.5, the risks were not ever. For investors, this level represents the decisive battlefield that can serve as a starting point for additional losses or losses.
Market pressure holders: Can it avoid a collapse?
The chainlink series tells a disturbing story. After a period of monotheism, LINK erupted from its domain to the negative side, indicating a shift in market morale. The distinctive symbol is now hovering near the support level of $ 12.5, a decisive area that works historically as a recovery range. However, the current collapse indicates that this level may not carry, especially in the face of the pressure of the sales unabated.
One of the main concerns is the weak market structure, where LINK was constantly trading without the main moving averages, especially the simple moving average for 100 days (SMA). This indicates an increased dominance, which makes it difficult for bulls a meaningful recovery.
Moreover, the trading volume increased dramatically during the price decrease periods, indicating an increase in intensive sales pressure. It is worth noting that the size has increased by more than 200 %, which prompted the total cryptocurrency trading activity to more than one billion dollars. This sharp increase in size during the shrinkage period confirms the dominance of sellers in the market, which enhances the declining momentum.
Finally, the appearance of the market structure index and the demand mass index involves a decisive transformation in the direction dynamics. In other words, the market structure moved from a bullish stage to a landline. The breaking of the market structure often indicates the poor control of the buyer, allowing the sellers to obtain the upper hand.
A crucial moment for Chainlink
ChainLink finds itself in a decisive moment, with a $ 12.5 support level as the last defense line against a deeper correction. While it is difficult to ignore the homogenous signals, the basics of the strong symbol and flexibility offer a glimmer of hope. Whether the link can avoid a collapse, it will depend on its ability to maintain this main level and attract the attention of renewable purchase in the face of market pressure.
If $ 12.5 support fails, Altcoin may be vulnerable to more declines, which leads to a deeper correction of other support levels such as $ 11.1. However, if the bulls enter to defend this level, the possibility of a height of reversal increases, which provides the symbol an opportunity to restore the lost land.
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