🔗 #Chainlink ($LINK ) Market Update – August 8, 2025

Here’s the latest bullish roadmap for LINK based on current structure and wave theory:

🔹 Macro View

• Structure still aligns with the bullish scenario we've been tracking

• Recent Chainlink Reserve activity supported a price push, acting as a catalyst for upside

• Overall market structure suggests we’re in a 5-wave move, likely finishing Wave 5

🔹 Micro Structure

• Current price action appears to be forming a 1-2-3 setup

• We could be mid-third wave, then expecting Wave 4 and 5, potentially completing at $23

• Why $23?

  ◦ 61.8% Fibonacci extension target

  ◦ Major historical resistance from March 2024

🔹 Support & Resistance Levels

• 🔸 Resistance: $19.60, $20.25, and $23

• 🔹 Micro Support Zone: $17.64 – $18.56

• A breakdown below $17.64 would invalidate the current bullish impulse and suggest a larger correction is ongoing

📌 Summary

As long as $17.64 holds, the structure remains bullish. We're either completing Wave 5 or possibly entering a more impulsive breakout. Watch closely a clean 5-wave formation could pave the way for further gains.

📣 Keep an eye on $23 that’s the key upside target before any meaningful correction.

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