$LINK finally met real resistance after an almost uninterrupted 4H climb.
Price ran from roughly $8.10 to $12.50, but the move into $12.4–$12.5 was rejected hard. What caught my attention, though, was the response afterward: the dip toward $11 was bought quickly and LINK recovered back around $11.72.
Now $12.00 is the first level buyers need back.
Reclaim and hold above it, and another test of $12.4–$12.5 becomes realistic. Break that high, and the bullish structure continues.
But if $11.40–$11.50 fails, I’d expect the market to test whether the recovery wick near $11 was genuine demand or just a temporary bounce.
The trend is still bullish. The easy part of the move may be over.
Price ran from roughly $8.10 to $12.50, but the move into $12.4–$12.5 was rejected hard. What caught my attention, though, was the response afterward: the dip toward $11 was bought quickly and LINK recovered back around $11.72.
Now $12.00 is the first level buyers need back.
Reclaim and hold above it, and another test of $12.4–$12.5 becomes realistic. Break that high, and the bullish structure continues.
But if $11.40–$11.50 fails, I’d expect the market to test whether the recovery wick near $11 was genuine demand or just a temporary bounce.
The trend is still bullish. The easy part of the move may be over.