Chainlink ($LINK ) is stabilizing at a major historical support base after a prolonged pullback. Price has retraced into a long-term demand zone where selling pressure is clearly weakening, signaling potential accumulation.
š Technical Snapshot:
Structure: Descending trend completing a key support retest
Bias: Bullish, as price compresses near high-timeframe support instead of breaking down
Key Levels:
ā¢ Strong horizontal support at the current base
ā¢ Overhead trend resistance from prior swing highs
ā Risk Note: A decisive breakdown below long-term support would invalidate the recovery thesis and reopen downside risk.
š Traders are watching closely for confirmation as LINK consolidates at this critical level.
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