$LINK mounted a steady recovery wave on the 1-hour chart, advancing off its local low near $10.60 to test immediate overhead resistance near $12.33.
The price is approaching an initial horizontal supply band near $12.50 – $12.70, while a key lower demand shelf sits around $11.30 – $11.20 and the main overhead distribution ceiling sits higher at $13.30 – $13.50.
The technical roadmap anticipates a potential rejection off the $12.50 – $12.70 supply zone, leading to a corrective pullback toward the $11.30 – $11.20 demand floor before a secondary expansion wave attempts to push up toward the $13.50 ceiling.
Chasing long entries into the immediate supply band offers a weak risk-to-reward ratio, making a patient approach off lower support the cleaner play.
#LINK #Chainlink
The price is approaching an initial horizontal supply band near $12.50 – $12.70, while a key lower demand shelf sits around $11.30 – $11.20 and the main overhead distribution ceiling sits higher at $13.30 – $13.50.
The technical roadmap anticipates a potential rejection off the $12.50 – $12.70 supply zone, leading to a corrective pullback toward the $11.30 – $11.20 demand floor before a secondary expansion wave attempts to push up toward the $13.50 ceiling.
Chasing long entries into the immediate supply band offers a weak risk-to-reward ratio, making a patient approach off lower support the cleaner play.
#LINK #Chainlink
