LINK Holds Its 200-Day EMA While AVAX Trades Below Every Key Average

Three Things to Know A reported outflow from a Binance hot wallet triggered a leveraged sell-off that hit mid-cap altcoins hardest. Chainlink bounced right off its long-term average, while Avalanche still trades under every major trend line. LINK's grip on the $11 area now decides whether the rebound has legs. Chainlink and Avalanche are trying to recover after a scare around a Binance hot wallet set off a wave of forced selling. The exchange paused some withdrawals and has not confirmed any loss of customer funds. The rebound matters because both tokens had already lost about a quarter of their value this month. Traders now want to know whether this bounce marks a floor or just a pause before sellers return.

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