$LINK experienced a sharp bearish impulse from the $13.00–13.20 supply zone, followed by strong selling pressure. After the dump, price has entered a tight consolidation range around $12.15–12.30, showing distribution rather than accumulation. This consolidation below previous support confirms weakness, with $12.40–12.50 acting as immediate resistance, while liquidity is stacked below the range.

Current Price Action:

Price is moving sideways in a narrow range after a strong sell-off, indicating a high probability of bearish continuation once consolidation breaks to the downside.

Trade Setup:

• Entry Point: $12.25 – $12.40

• Stop Loss: $12.95

• Take Profit:

  TP1: $11.90

  TP2: $11.50

  TP3: $11.00

• Margin: 2–3% of wallet

• Leverage: 10x