Chart Structure and the $8.35 Retest

$LINK has re-established itself above the $8.35 resistance level that has functioned as a pivot point across multiple timeframes. This move comes on the back of steady upside momentum - the asset is up 1.80% over 24 hours with $192M in daily volume, indicating participation rather than thin-tape movement. The London session overlap will be critical to sustain this level; any loss of $8.35 would revert price to secondary support around $8.18.

The 4-hour structure shows $LINK approaching $8.37 as the immediate microstructure zone. Breaking above this would confirm the breakout narrative and open a direct path toward the $8.52 structural resistance. This level has acted as both supply and demand rejection point historically, making it the natural target for traders seeking a measured move from the current base.

Fibonacci and Technical Bands

Fibonacci retracement levels from the recent swing low provide confluence with chart structure. The $8.52 zone sits near the 61.8% retracement of the last downswing, a level where institutional traders often cluster orders and where profit-taking commonly occurs. Below the current price, the 38.2% retracement around $8.15 serves as a secondary support zone if momentum fails during the London or New York session.

RSI readings on the 4-hour chart sit in the 55-62 range - neutral to mildly bullish territory, not overbought. This suggests room for continuation higher without triggering mean-reversion mechanics. MACD on the same timeframe shows a weak positive histogram with the signal line trending upward but not yet crossed above the zero line, indicating early-stage momentum rather than established uptrend conviction.

What Traders Should Monitor

The $8.37 - $8.52 zone is the critical test ahead. If $LINK closes and holds above $8.52 on a 4-hour candle, the structure breaks into fresh air with potential extension toward $8.75 as the next undefended level. A failure to hold above $8.35 would invalidate the breakout narrative and likely trigger a retest of $8.10 - $8.15 support during the next session.