$LINK ‌LINK Dropped Hard. Now Price Is Being Tested.

Chainlink is trading near $9.56 after a strong sell-off.
The drop was controlled, not driven by panic.
This usually means sellers are still active.
This is where patience beats prediction.

Current Market Structure (1H)
LINK is still in a short-term downtrend.
Price is below key moving averages.
This shows us that sellers remain in control.
The bounce from $8.95 occurred, but it lacks strength.
So far, buyers have not proven their dominance.
This is not a bullish structure yet.

Key Levels That Matter (Expanded)
Resistant Zones
$9.90 – $10.20 → Previous support turned resistance
$10.70 – $11.00 → Breakdown zone
$11.70 – $12.20 → Major supply and distribution area

Support Zones
$9.20 – $9.40 → Short-term reaction area
$8.90 – $9.00 → Strong demand (recent low)
Below $8.90 → No strong structure support visible

Bullish Scenario (Only If Conditions Are Met)
LINK stays above $9.20
Higher lows form on the 1H chart
Price recovers to $10.20 and holds
If all of this happens, a move toward $11.70 is possible.
This would still be a relief bounce, not a trend change.

Bearish Scenario (Still Valid)
LINK fails to hold $9.20
Bounce gets rejected near resistance
Price revisits $9.00 or breaks below
A drop below $8.90 opens up more downside.

Final Thoughts
LINK is trying to stabilize, but stabilization is not confirmation.
This is a decision zone, not a fear of missing out zone.
Let the chart show the direction before making a commitment.
Do you think LINK can reclaim $10, or is the market setting up for another leg down?