LINK · 1H · UPTREND
Price bottomed around 7.10–7.20 in late June, ripped nearly 20% off that low, and is now testing the 8.35–8.40 zone — which lines up with the dashed horizontal resistance visible on the chart from the mid-June consolidation area. The structure from the July 1 low is clean: higher lows stacking, momentum carrying price into a multi-week resistance band. Right now price is sitting at exactly that resistance level, and the current candle is essentially flat, which tells me the market is deciding here. I'm watching this level closely — a clean close above 8.40 on the 30m (which maps to the 1H) flips this into breakout territory with very little overhead supply visible until 8.60+. I'm not chasing this — I'm waiting for the close above resistance to confirm before adding size, because mid-range entries between 7.80 and 8.40 give me worse R/R than letting price either break out cleanly or pull back into the 8.00–8.10 zone for a reload.
The live news context carries nothing directly relevant to LINK fundamentals — I'm trading this purely off structure.
LONG SCENARIO
Confirmation
8.40
Closing above 8.40 on the 1H confirms bullish breakout of the multi-week resistance band — that's my trigger.
Invalidation
8.00
Structure invalidated below 8.00, which is the nearest prior consolidation support and where the rally would start to look like a failed breakout.
Target 1
8.60
Next visible swing high cluster from the right side of the chart.
Target 2
8.70
8.75 — extended structural resistance from the early-to-mid June highs.
Risk/Reward
(8.60 - 8.40) / (8.40 - 8.00) = 0.5:1 to T1 — tight on the first target, but (8.75 - 8.40) / (8.40 - 8.00) = 0.9:1 to T2. I'm sizing accordingly and targeting T2 as the primary exit.
Confidence
MEDIUM — the structure is bullish but price is right at resistance and hasn't confirmed the break yet
Resistance: 8.40 / 8.70–8.75
Support: 8.00 / 7.60
This is not financial advice. Content is AI-generated.