Market Overview for Chainlink/Tether (LINKUSDT)

Summary
• Price declined from $14.99 to $14.18 over 24 hours, breaking key support near $14.40.
• High volume and divergence between price and turnover signal weakening bear pressure.
• RSI remains in oversold territory, suggesting potential near-term rebound potential.
• Bollinger Bands show increased volatility amid a sharp drop, with price near the lower band.

Chainlink/Tether (LINKUSDT) opened at $14.80 on 2025-12-09 12:00 ET, reached a high of $15.01, and closed at $14.18 at 12:00 ET on 2025-12-10. Total volume was 1,210,648.98, and turnover was $17,172,823.97 over the 24-hour window.

Structure & Formations

The price declined sharply through a key support level near $14.40, confirmed by a bearish engulfing pattern. A long lower shadow near the 5-minute $14.22 level suggests rejection of further declines, though a breakdown below $14.10 could trigger renewed momentum to the downside. A bullish harami at $14.22–$14.26 and a doji near $14.30 may hint at short-term stabilization.

Moving Averages

On the 5-minute chart, the 20-period and 50-period SMAs are in steep decline, with price currently well below both. On the daily chart, the 50-period SMA sits at ~$14.50, while the 200-period SMA is near $14.70, reinforcing the bearish tilt and suggesting that the pair remains below critical medium-term trendlines.

MACD & RSI

The MACD line and signal line crossed into negative territory with bearish momentum, though divergence between the RSI and price action—RSI hitting lower lows while price drops more sharply—suggests a potential reversal. RSI is currently in oversold territory (~28), indicating a high probability of near-term consolidation or a minor bounce.

Bollinger Bands

Volatility expanded as price dropped, with bands widening from a narrow contraction near $14.80 to a full range of ~$0.35. Price is now sitting near the lower band at ~$14.10, suggesting increased bear pressure but also a likely near-term bounce.

Volume & Turnover

Volume spiked during the early part of the decline, particularly around the $14.40 level, confirming the breakdown. However, volume has declined in the past 6 hours despite continued price weakness, indicating diminishing bear conviction. Turnover has also dropped, showing less capital chasing the move lower.

Fibonacci Retracements

On the 5-minute chart, the key 50% and 61.8% retracement levels are near $14.25 and $14.34, respectively, and the price appears to have bounced slightly off the 50% level. On the daily chart, a 61.8% retracement of the recent $15.01–$14.18 move sits at ~$14.51, a potential near-term resistance if a rebound takes hold.

Looking ahead, the market may test $14.10 for a deeper bearish confirmation, or retrace back to $14.30–$14.40 if buyers step in. Investors should monitor volume behavior and RSI for signs of a reversal, with the risk of a further breakdown if the $14.10 level gives way.