🟢 $LINK Shows Relative Strength Amid Market Sell-Off

While many altcoins are struggling under the recent market-wide sell-off, Chainlink (LINK) is holding up better than most. Despite pressure from the broader correlation between crypto and NASDAQ tech stocks, LINK continues to defend critical support levels.

🔎 Key Support Zone to Watch: $22.31

The level at $22.31 is acting as upper micro support.

As long as this holds, the bullish blue scenario remains in play.

A break below this level doesn’t invalidate the bullish outlook entirely but shifts focus to deeper support.

If support fails, the yellow scenario suggests a deeper corrective pullback into the $13–$18 zone, which could offer another accumulation opportunity.

📈 Potential Bullish Scenarios

1. Blue Scenario (Shallow Correction, Bullish)

Holding above $22.31 keeps this scenario alive.

Structure suggests a possible B-wave low around the August 15th swing low.

If confirmed, LINK could move in a five-wave C wave up, targeting $31+.

2. Yellow Scenario (Deeper Correction, Still Bullish Long-Term)

A break below support could trigger a move to $13–$18.

This would still be a wave two pullback, setting the stage for a larger bullish move later.

⚡ Current Market Context

Bitcoin’s 4H chart is already oversold, suggesting the market may be close to relief.

If BTC finds a local bottom, LINK’s bullish blue scenario is more likely to play out.