Chainlink (LINK) fell from $10.80 to $9.60 between May 9 and May 17, with the chart printing lower highs and lower lows as short-term selling stayed in control. The heaviest drop came on May 16, when LINK slid from $10.10 to below $9.70, accompanied by higher trading volume.
Crypto Patel sees upside liquidity at $10.86 and $11.85
Analyst Crypto Patel said LINK shifted into a bullish structure after CISD. He pointed to a retracement into a breaker block that aligns with prior displacement, along with a pullback into a discount zone and IFVG support below current price action. In that setup, liquidity sits above the market, with upside targets at $10.86 and $11.85.
The idea is not open-ended. Patel said the structure would be invalidated by a daily close below $8.90, and he called for confirmation inside the breaker block before entering positions.
$9.60 turns into immediate support as resistance stacks near $10
TradingView data showed a split between the structural view and LINK’s short-term tape. While the broader setup hints at a possible bullish shift, recent sessions were still defined by repeated selloffs. After that wave of weakness, price stabilized slightly above $9.60, turning the area into immediate support.
On the upside, resistance remains at $9.90 to $10.00, followed by $10.20. A break through those levels could push LINK toward $10.60. If $9.60 fails to hold, the next downside zone sits around $9.30 to $9.40.
RSI stays below neutral while MACD starts to improve
Momentum readings are still mixed. RSI is near 44.65, with its moving average around 38.91. That keeps the indicator below the neutral 50 mark, leaving the broader momentum profile bearish for now. At the same time, RSI has lifted from oversold territory, showing that selling pressure has eased somewhat.
MACD is showing early signs of improvement. The histogram turned slightly positive near 0.02, and a potential bullish crossover is beginning to form. LINK remains compressed between nearby support and overhead resistance, with the reaction around $9.60 likely to determine whether price extends lower or starts moving toward the upside liquidity zones flagged by analysts.