, in which we expected a correction, worked out pretty quickly. The sellers turned out to be much stronger than we expected. Our ultimate target of about $21 was achieved by the sellers almost immediately after the idea was published. We expected a smoother correction.
As you can see in the chart dated February 23, buyers are trying to organize a new upward trend. LINK price moves in a white channel. The first critical point for buyers is at $31.4. Notice how the LINK price from February 13 to February 18 tried to gain a foothold above this level. In addition, note that it was the mark of $31.4 that became the main support of the sellers. After retesting this mark on February 23rd, sellers continued their sharp decline with an ultimate target of $20.81
If buyers fail to gain a foothold above this mark the first time, we will expect a retest of the range of $27.3-28.3 . It is after the buyers have tested the strength in this range that the LINKUSDT price may continue to rise to the range of $34-35.
And then we will look forward to the reaction of the sellers. Correction in the LINKUSD market is not over yet and there is a high probability of another $17 to be tested. However, these are already medium-term targets, according to which the global idea will be made.
P.S. Why is there such a possibility? Check out our global BTC idea: