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$LINK is teasing everyone right at the $9 mark, but is it actually strong enough to break out?
We’ve seen it struggle around this $9.15 to $9.30 zone multiple times now. Every time it gets close, the sellers step in and push it back down. The chart shows a decent recovery from that $8.40 bottom, but we are currently seeing more red in the order book with 54% on the sell side.
Volume is sitting at 2.6M which is okay, but we need a real spike to clear these sell walls near $9.00 and $9.05. If we can't flip $9 into solid support soon, I wouldn't be surprised to see another dip back toward the $8.70 area to collect more liquidity.
It's a waiting game for me. I want to see a clean daily close above $9.20 before I get any ideas about a move back toward $10.
Don't get trapped in the chop. Let the volume confirm the move.
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