【$LINK Signal】No Position | Downtrend Continuation, Waiting for Direction Confirmation

$LINK Price drops but open interest remains stable, indicating it’s not a massive long liquidation but rather institutional distribution in an orderly manner. The 4H rebound highs are gradually decreasing, and buying strength continues to weaken (Buy/Sell Ratio < 0.5), with Taker sell pressure dominating. The current price consolidates around a key support zone (near 8.85), but lacks strong buying absorption signals, indicating a downtrend continuation pattern.
🎯Direction: No Position (NoPosition)
Deep technical logic: Price retraced from the 9.04 high, with 4H candlesticks showing each rebound being suppressed by selling pressure. Volume contracts during rebounds and expands during declines, a typical weak structure. Funding rates are slightly negative but not extremely so, suggesting that the bears are not overly crowded, and downward momentum may not be fully released yet. Sell orders on the order book (above 8.87) are significantly heavier than buy orders, forming an overhead resistance wall. Confirmation of the next phase requires a valid break below 8.60 support or a strong volume breakout above 9.00 resistance. Currently, it’s best to wait and see, letting the market choose its direction.
Trade here 👇 $LINK
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