LINK intraday: Critical $11.71 support; downside likely to $10.53 unless $12.01 breaks
LINK (Chainlink) is in a short-term downtrend on January 28, 2026, trading around $11.81–$11.89 with 24h volume ~ $220–247M. Key intraday support is $11.7149; a breakdown there raises the probability of a move toward $10.5331 (≈11% downside). Immediate resistance sits at $12.0141 (near EMA20 $11.94); a sustained hourly close above $12.0141 would target $12.8855 and a Supertrend flip (~9% upside). Momentum indicators are weak: RSI ~42, MACD histogram slightly positive but MACD line sloping down, Supertrend bearish. Volatility is low, favoring cautious position sizing and tight stops; recommended risk per trade 1–2% for short-term traders. LINK remains highly correlated to BTC (~0.85); BTC support at $88,472 and resistance at $90,260 will strongly influence LINK direction. No material news events reported — analysis is purely technical. Primary actionable levels: support $11.71 (break target $10.53), resistance $12.01 (bullish trigger $12.89).
Bearish
The technicals point to a bearish short-term outlook. Price is below EMA20, Supertrend is bearish, RSI sits in neutral-to-weak territory (~42) and MACD shows a down-sloping line despite a slightly positive histogram — a common prelude to bearish continuation. The report assigns a >60% probability to downside if $11.7149 breaks, with a target near $10.53 (about 11% lower). Volatility is low, reducing odds of quick bullish reversal; an upside scenario requires an hourly close above $12.0141 to invalidate the bearish case. High correlation to BTC (~0.85) amplifies risk: if BTC fails its support ($88,472) LINK is likely to follow. Historically, altcoins underperform and accelerate lower when BTC weakens and when price trades under EMA20 with bearish Supertrend confirmation. For traders, this implies leaning toward short bias or staying flat until clear confirmation above $12.01; use tight stops and limit leverage given low volatility and risk of false breakouts.