#Chainlink is showing an interesting setup on the 4H chart after recovering strongly from the $8.00 area.
Price is now around $8.84 and has pushed directly into the highlighted $8.80–$8.90 resistance zone, which has previously acted as a rejection area.
This is the level I’d be watching closely. If $LINK gets rejected here, the chart suggests a possible pullback toward the $8.30–$8.00 region, with $8.00 standing out as an important support level. On the other hand, a clean breakout and hold above $8.90 could invalidate the bearish idea and open the door for further upside.
I wouldn’t chase the move at resistance. The reaction around this zone should give a clearer idea of the next direction.
Price is now around $8.84 and has pushed directly into the highlighted $8.80–$8.90 resistance zone, which has previously acted as a rejection area.
This is the level I’d be watching closely. If $LINK gets rejected here, the chart suggests a possible pullback toward the $8.30–$8.00 region, with $8.00 standing out as an important support level. On the other hand, a clean breakout and hold above $8.90 could invalidate the bearish idea and open the door for further upside.
I wouldn’t chase the move at resistance. The reaction around this zone should give a clearer idea of the next direction.