Levels in LINK: Breakdown or Breakout?

If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!


### **Technical Overview**

- **Current Price**: $14.35 (approx.)
- **Trend Structure**: Elliott Wave count suggests Wave 3 has wrapped up. Wave 4 and 5 are likely next.

---

### **Key Observations**

- **Impulse Invalidation Level**: $19.190
→ A break above this invalidates the current bearish impulse.

- **Bullish Barriers**:
- *Minor Resistance*: $15.002
- *Major Resistance*: $17.677
These are the key spots bulls need to reclaim to regain control.

- **Crucial Support**: $12.426
→ If this breaks, expect more downside—likely toward the final Wave 5 zone.

- **Bearish Target**: $9.283
→ Probable landing spot for Wave 5 (of C). Could shape up as a longer-term accumulation zone.

---

### **Elliott Wave Context**

- A possible running or expanded flat scenario is in play, with Wave (B) topping around the 1.382 extension.
- Wave 3 appears to have completed near the 1.618 extension, a textbook zone for this kind of move.

---

### **Potential Scenarios**

1. **Bullish Reversal Case**:
- Price reclaims $15.00 and ideally $17.677.
- The bearish count falls apart.

2. **Bearish Continuation Case**:
- Price stalls under resistance.
- A break of $12.426 sets the stage for continuation down to $9.283.

3. **Neutral Scenario**:
- Choppy consolidation between $12.5–$15 while the market sorts itself out.

---

### **Strategic Considerations**

- **Short-term Bulls**: Watch $15–$17.6. Any strong reclaim could offer clean long setups.
- **Bears & Shorts**: Prime fade zone if price gets rejected near resistance.
- **Long-term Investors**: If we hit $9.283, that’s a potential loading zone for the next cycle.

Trade safe, trade smart, trade clarity.