📍 Current Setup:
Overnight dip into Fibonacci support: $19.93 – $20.85
Strong bounce → launched Wave 5 rally
Move from low to current levels = ~16% gain
Now consolidating just above $23 resistance
📊 Key Levels:
Immediate Supports:
$20.87 → Break below = first sign Wave 2 pullback starting
Wave 2 support zone: $17.82 – $12.94
Upside Targets:
$25.12 → Next major resistance
$31.00 → Mid-term target
$47.00 → Long-term bullish target
📈 Scenarios:
Bullish Continuation:
Break above $25 before Wave 2 pullback = likely Wave 2 already bottomed in deep Wave 4
Correction Watch:
Drop below $20.87 opens path to $17.82 – $12.94 accumulation zone (ABC corrective structure expected)
💡 Market Takeaway:
$LINK has done the bullish work—five waves up and breakout above $23. Market now at a decision point: either push toward $25+ directly or pull back to build a stronger base. Traders should watch $20.87 closely for early reversal clues.
#LINK #Chainlink #CryptoUpdate #Altcoins #ElliottWave #BinanceSquare
