$LINK Buyers Defend $11.20 as Recovery Setup Develops
Entry Zone: $11.35 – $11.55
Stop Loss: $11.05
TP1: $11.95
TP2: $12.15
TP3: $12.55
Why This Setup?
LINK is trading around $11.586 after reaching a recent low of $11.200 on the 1H chart. Price remains inside a broader descending channel, but the latest reaction from support suggests buyers are attempting to establish a short-term recovery.
The $11.20–$11.35 zone is the key support area to watch. If LINK holds this region and builds higher lows, a move toward $11.95 becomes a possible first objective. A confirmed breakout above the $11.95–$12.15 resistance area could open the way toward $12.55–$12.80, where stronger selling pressure may emerge.
The descending trendline remains an important obstacle. LINK needs to reclaim nearby resistance and sustain bullish momentum before a broader trend reversal can be considered. If price loses $11.20, the recovery setup weakens and further downside remains possible.
Confirmation: A bullish reaction from the support zone, followed by a break above local resistance.
Invalidation: A decisive breakdown below $11.20.
Trade carefully, respect your stop loss, and avoid chasing a breakout before confirmation. All targets are potential levels, not guaranteed outcomes.
Entry Zone: $11.35 – $11.55
Stop Loss: $11.05
TP1: $11.95
TP2: $12.15
TP3: $12.55
Why This Setup?
LINK is trading around $11.586 after reaching a recent low of $11.200 on the 1H chart. Price remains inside a broader descending channel, but the latest reaction from support suggests buyers are attempting to establish a short-term recovery.
The $11.20–$11.35 zone is the key support area to watch. If LINK holds this region and builds higher lows, a move toward $11.95 becomes a possible first objective. A confirmed breakout above the $11.95–$12.15 resistance area could open the way toward $12.55–$12.80, where stronger selling pressure may emerge.
The descending trendline remains an important obstacle. LINK needs to reclaim nearby resistance and sustain bullish momentum before a broader trend reversal can be considered. If price loses $11.20, the recovery setup weakens and further downside remains possible.
Confirmation: A bullish reaction from the support zone, followed by a break above local resistance.
Invalidation: A decisive breakdown below $11.20.
Trade carefully, respect your stop loss, and avoid chasing a breakout before confirmation. All targets are potential levels, not guaranteed outcomes.