$LINK
📉 Technical Signals:
• Markets lean bearish, with around 90 % of technical indicators signaling bearish bias and only ~10 % bullish on some platforms — showing strong selling pressure
📌 Key Levels to Watch Today
📍 Support:
• $8.40 – $8.70 — near‑term base
• $7.90 – $8.00 — deeper pivot
📈 Resistance:
• $9.10 – $9.30 — first barrier
• $9.50 – $9.75 — medium resistance
• $10.00+ — extended upside
📈 Price Action:
Chainlink’s price is under pressure and trading near lower levels in the current downtrend. Most technical indicators remain bearish, and sentiment is weak even though some short‑term oversold conditions could allow relief moves.
🟩 Bullish (Long) Setup
✔ Entry Zone:
➡ $8.40 – $8.70 — near key near‑term support cluster
❗ Stop‑Loss:
➡ $7.90 — below another support pivot
📈 Targets:
TP1: $9.10 – $9.30 — first resistance
TP2: $9.50 – $9.75 — broader resistance zone
TP3 (Aggressive): $10.00+ — extended upside on strong bounce
Bullish Trigger: Daily close above $9.30–$9.50 with volume.
🟥 Bearish (Breakdown) Setup
✔ Entry (Short Trigger):
➡ Below $8.40
❗ Stop‑Loss (Short):
➡ $8.85 – $9.00
📉 Downside Targets:
Target 1: $7.90 – $8.00 —
Target 2: $7.50 – $7.60 —
Bearish Trigger: Sustained close below $8.00
• The 14‑day RSI near neutral/oversold territory suggests some bounce potential in the short term, but broader outlook remains weak.
📌 Broader Market Context:
• On‑chain data shows accumulation and ETF inflows, which is a contrary signal to price weakness — often interpreted as longer‑term holders stepping in around dips.
• Reserves on exchanges have shrunk as tokens move to private wallets, another sign some investors are buying the dip.
