Technical analysis by TrendShredder about Symbol LINK: Sell recommendation (2/6/2025)

📉 LINK/USDT - 1H Chart Breakdown Setup 📉Chainlink (LINK) is currently trading within a symmetrical triangle (or wedge), forming a clear consolidation zone. Price is now testing the descending resistance, and based on current momentum, a break to the downside looks highly probable.🔥 Technical Breakdown:🔻 Symmetrical Triangle Formation:•Price has been squeezing between lower highs and higher lows.•The recent rejection at the upper trendline suggests bearish continuation.🔻 Bearish Confluence:•Price is still below the 200 EMA, acting as major resistance.•Lower highs indicate weakness from buyers.•Strong support at $18.95, but a breakdown will trigger further downside.📉 Measured Move Target:The measured move for this symmetrical triangle is calculated from the highest point ($21.39) to the lowest point ($18.95):📏 Breakout Target = $17.86⚠️ Key Levels to Watch:•Break below $18.95 = Bearish confirmation 🚨•Upside invalidation above $20.50A strong volume spike will confirm the move. Are you shorting this breakdown? Let me know your thoughts! 👇#LINK #Crypto #Trading #SymmetricalTriangle #TechnicalAnalysis #BearishBreakdown