$LINK quick research note, not a hype thread.

Chainlink is being priced like a narrative reset, not just a candle trade.

Price: $8.2560
Market cap: $6.17B
Rank: #19
FDV: $0.0000
7d / 30d: +3.1% / +3.5%

The part I care about:
Circulating ratio is about 74.8%, so supply pressure belongs in the valuation debate.

Daily trend: Bullish 📈
RSI: 56.2
Support: $7.0800
Resistance: $8.6300

My read: if $LINK reclaims resistance, the market starts paying for the story again. Lose support, and I would rather wait than be early. NFA.

Is $LINK undervalued here, or just another bounce trap?