Like most of the altcoins, we saw them breaking down right before Christmas during the BTC bullrun. We're currently seeing BTC.D (BTC Dominance) slowly retracing which could possibly mean that we're slowly heading to a potential alt season. However, it is still early to say for sure and we need to wait until BTC consolidates. In the case of LINK we saw it push through the 4HR 50MA which could mean we're seeing a trend reversal. If it remains above and holds the 11.30 - 11.68 support area, you can consider a long position with a tight stop-loss. If it breaks further down, it may follow the downward price channel.
Trade safely.
Trade safely.