$LINK /USDT 1H โ Is This Just a Pullback or the Start of Reversal? ๐ #Chainlink just had a powerful run up to $19.17 โ but now weโre seeing a retrace back to around $18.09. Still up +6.24% over the last 24H, so whatโs the play hereโ
Letโs break it down:
๐ 1. Big Push, Then Pause:
LINK broke through multiple resistance levels during the surge. That momentum was no joke! But now itโs cooling down.
๐ 2. Natural Correction?
A pullback after a rally this strong isnโt a red flag โ itโs expected. Traders are locking in profits and watching for confirmation.
๐ 3. Key Zones to Watch:
- Support: $17.60โ$17.90
- Resistance: $18.50โ$19.00
Reclaiming above that upper range could open the door for another breakout.
๐ 4. Volume Check:
Light sell volume? It might just be a breather. But rising red volume? Could hint at deeper retracement.
๐ก Quick Tip:
Wait for confirmation โ donโt catch a falling knife. A bounce from support or a reclaim of resistance can offer cleaner entries.