LINK is now hovering around 9.5u, trading right along the stage high of this week. Over the past 7 days it has climbed from 8.16 to nearly 16%, and the trend hasn’t broken.
The focus these days is on funding. In the past three hours, spot large orders have continuously shown net inflow for 12 consecutive sampling periods—not just a one-off print, but there are people steadily absorbing. On the order book, the buy walls are also slightly thicker than the sell walls. On spot, the buyer side dominates the active trades. This kind of absorption is the reason the price can stay pinned to the high and not drop.
That said, what makes me hesitate is this: the derivatives open interest isn’t keeping up—it’s actually shrinking. As price rises, leveraged funds aren’t stepping in. That’s what you could call “spot lifts, futures stay cold.” RSI 69 and MFI 82 are already pushed into a relatively hot zone. After such a strong 7-day run, it feels a bit stretched short-term. There are also signs in the news of large holders moving assets to exchanges—something that looks like distribution. The volume isn’t big, but it’s worth watching.
So at this level, my stance is: the direction is fine, but don’t chase it directly. Momentum is still hot. If it dumps a bit in the short term, the first ones who get trapped will be the people chasing highs. Wait for a pullback toward around 9.3, and only then consider entering once the buy-side can still absorb—then it’ll feel much more comfortable.
In plain terms: “the direction is right, but the position is high.” I’d rather wait for it to do a natural pullback and confirmation, instead of forcing a hard entry after it’s already surged a long way.
#link $LINK
The focus these days is on funding. In the past three hours, spot large orders have continuously shown net inflow for 12 consecutive sampling periods—not just a one-off print, but there are people steadily absorbing. On the order book, the buy walls are also slightly thicker than the sell walls. On spot, the buyer side dominates the active trades. This kind of absorption is the reason the price can stay pinned to the high and not drop.
That said, what makes me hesitate is this: the derivatives open interest isn’t keeping up—it’s actually shrinking. As price rises, leveraged funds aren’t stepping in. That’s what you could call “spot lifts, futures stay cold.” RSI 69 and MFI 82 are already pushed into a relatively hot zone. After such a strong 7-day run, it feels a bit stretched short-term. There are also signs in the news of large holders moving assets to exchanges—something that looks like distribution. The volume isn’t big, but it’s worth watching.
So at this level, my stance is: the direction is fine, but don’t chase it directly. Momentum is still hot. If it dumps a bit in the short term, the first ones who get trapped will be the people chasing highs. Wait for a pullback toward around 9.3, and only then consider entering once the buy-side can still absorb—then it’ll feel much more comfortable.
In plain terms: “the direction is right, but the position is high.” I’d rather wait for it to do a natural pullback and confirmation, instead of forcing a hard entry after it’s already surged a long way.
#link $LINK