$LINK has pulled back significantly from its recent highs, unwinding a sharp impulsive rally that pushed price well above the surrounding range. After that move faded, price came back down into a well-established support zone a level that had previously acted as a base during earlier consolidation.
That zone is now being retested, and $LINK is currently compressing just beneath a 4H supply area, caught between the demand shelf below and resistance above. This kind of squeeze often reflects a market in equilibrium, waiting for a catalyst to tip the balance in either direction.
RSI is sitting below the midline but has shown a bullish divergence off the recent lows price made a fresh low while momentum held higher, a signal that's often watched closely for early signs of exhaustion in the prior down move.
With $LINK holding above this demand zone, the key question is whether buyers can reclaim the 4H supply level above, or whether the broader pullback still has room to extend.
This is purely educational market structure analysis, not financial advice. Always do your own research (DYOR).
📊 #LINK #MarketStructure
That zone is now being retested, and $LINK is currently compressing just beneath a 4H supply area, caught between the demand shelf below and resistance above. This kind of squeeze often reflects a market in equilibrium, waiting for a catalyst to tip the balance in either direction.
RSI is sitting below the midline but has shown a bullish divergence off the recent lows price made a fresh low while momentum held higher, a signal that's often watched closely for early signs of exhaustion in the prior down move.
With $LINK holding above this demand zone, the key question is whether buyers can reclaim the 4H supply level above, or whether the broader pullback still has room to extend.
This is purely educational market structure analysis, not financial advice. Always do your own research (DYOR).
📊 #LINK #MarketStructure