LINK is around 8.32u now. It fell pretty hard today, down 5.5%. Over the past few days, the overall market has been relatively weak; this time, it couldn’t hold up.

On a one-week basis, it has already turned into a decline, down 4.8%. The previous rally now looks like it’s really giving some of that back. But over the past month, its on-book gain is still 14%. Its base remains among the thicker ones in this group of coins. This pullback is mostly squeezing out the portion that rose too fast earlier. The 24-hour high is 8.81, and the low is 8.28—today’s drop has been relatively concentrated.

The previous two analyses both mentioned that its uptrend has been steady and that it has been more resilient than coins that have been falling off and on during the same period. Now this drop is truly testing the quality of that prior rally. Whether it can hold the monthly-line gains is the key going forward.

At this level, if it can hold the 24-hour low at 8.28, it will likely just go through a consolidation pullback, and the monthly trend hasn’t been truly broken. If it continues to break down further, then you may need to reassess whether this rally has already ended. If you have positions, don’t panic— the monthly line is still positive. For those considering shorting, you can follow the momentum for now, but be careful of a rebound. #link $LINK