The most useful coin in the crypto industry. Without it, the whole industry wouldn’t be able to function properly. If ETH disappeared tomorrow, everyone would move to Solana or somewhere else. If LINK disappeared tomorrow, the industry would freeze for days or even weeks. Almost no protocol or blockchain would work properly. That’s how important LINK is.
But throughout its entire history, it has been horribly undervalued. Now, this finally seems to be changing.
LINK has already shown one of the strongest moves this year, gaining more than 100% from the lows.
1️⃣ Right now, price is trying to hold above the $12 resistance level, but directly below it there is a large FVG at $11.133–$9.805.
2️⃣ Right behind that zone, there is also diagonal support. A very clean setup, which almost directly points to a scenario where price closes the FVG, bounces from the diagonal support, and returns to growth.
3️⃣ However, it’s not that simple. What worries me is the huge liquidity cluster below, around $7.64 and lower. Price may want to test that level, because there is less liquidity above until around $16.
4️⃣ The good thing is that CMF is moving in harmony with price and shows liquidity inflow into the asset.
My main scenario is that in September–October we’ll see the FVG close and a test of $9.67. A squeeze lower is possible, but by November–December, I expect the bounce to begin. So even now, these are good prices for DCA into the next cycle.
In this cycle, I think LINK can finally break its long-term downtrend and take out the previous cycle high, reaching $40+ 📈
What do you think about LINK? Do you still believe in the old guy?
