The Trust Layer for Market Analysts

The analysis focuses on LINKUSD on the 1-hour timeframe, tracking a potential wave two correction unfolding as an ABC structure. It identifies a resistance area between $21.31 and $22.47. The nearest resistance area is offered near the ideal target area of a fourth wave, specifically the 38.2% retracement level at $21.95. Staying below $22.47 suggests a roadmap to the downside is being followed. Breaking above resistance could invalidate the C wave to the downside. If prices breaks above $22.47, the analysis would expect to see a micro five-wave move to confirm that the bottom has occurred. Breaching previous highs around the $27-$28 range reinforces the bottom scenario. If prices breach above the resistance area of 22.47 but do not show 5 wave move up, the correction may become more complex.