$LINK is testing a make-or-break macro resistance level at $18.80**. This zone has acted as a formidable ceiling for over a month. A decisive daily close above this level would be a major bullish signal, potentially unlocking a significant move toward the **$21.50 target.
The overall structure remains bullish, with higher lows holding since the October 2023 low. The primary support cluster rests between $16.20 and $16.80, which contains the 50-day moving average and a key Fibonacci retracement level. As long as this zone holds, the broader uptrend is intact.
However, momentum is showing caution. Trading volume has diminished during this consolidation, and the RSI is hovering near 60, suggesting the asset is neither overbought nor oversold, allowing room for a move in either direction.
For the next 24 hours, watch for a rejection or acceptance at $18.80**. A clean break above could lead to a swift **5-10% move**. A failure and rejection back into the range would suggest a retest of the **$17.20 - $17.50 support area.
Key Levels:
· Resistance: $18.80 (CRITICAL), $21.50
· Support: $17.20, $16.20-$16.80 (Major)
· Verdict: Bullish above $17.20, but needs to conquer $18.80 for continuation.
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