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$LINK Currently around 8.760 USDT. Today’s range has roughly been a -3.20% fluctuation.
For me, the focus isn’t on how much it has risen, but whether it’s a good entry point.
Short-term I still lean bearish.
Now, a few points worth paying attention to:
First, the price is close to the resistance zone, with limited upside potential and risk-reward ratio.
Second, this rally looks more like an emotional surge, and the follow-through hasn’t caught up yet.
Additionally, the continuation after the spike is average, making chasing long positions risky at an awkward level.
I prefer to view it this way: top sweep high waterfall short, rebound fakeout then second waterfall short, break support and chase short.
Suggested entry price: 8.830 USDT
Estimated target price: 8.304 USDT
Support reference: 9.040 USDT
If the price isn’t there, better to wait and not force a trade.