$LINK Chainlink is testing the 78.6% Fibonacci retracement of the previous rally, but the structure looks increasingly vulnerable to another downside extension. The more bullish scenario still allows for an upside attempt through a diagonal in circle wave C, but only as long as $9.28 holds. Break below and the next support levels are $8.90 and $8.20. Key resistance sits at $10.80. Fragile structure. Probability of a deeper pullback is growing.