LINK recently entered a correction phase, currently trading around 12.64 with sideways movement. It has broken below the 7-hour, 25-hour, and 99-hour moving averages (located at 12.71, 12.85, and 13.25 respectively), indicating a bearish outlook.

On the upside, a clean breakout above the 12.9-13.2 range (where the 25-hour and 99-hour resistance converge) could pave the way for a rally toward the previous high of 13.5-14. Short-term, if the rebound lacks strength, these levels will act as resistance.

On the downside, immediate support is around 12.5-12.47, with 12.47 being the recent swing low and a stronger defense line. A break below this level would increase the risk.

Volume behavior is interesting — there were a few noticeable spikes during the decline, but overall trading volume isn't particularly robust. To see a genuine rebound, volume needs to cooperate, and a strong reclaim of the 99-hour moving average is necessary; otherwise, the rebound could easily be a false move.