Technical analysis by The_Alchemist_Trader_ about Symbol LINK: Buy recommendation (1/8/2026)

Chainlink is trading at a critical high-time-frame support zone around $12, where price action is beginning to form a potential double bottom structure. This region is technically significant, as it aligns with both the value area low and the Point of Control, suggesting strong historical participation and acceptance at this level. So far, LINK has defended this support multiple times, indicating that sellers are struggling to push price lower. While the broader bearish structure is still intact, the compression around support highlights a potential transition phase where accumulation may be taking place. Key Technical Observations: - Price is holding $12 HTF support, aligned with value area low and POC - A double bottom pattern is developing but not yet confirmed - Break above the most recent lower high is required for validation - Upside target sits near $19, aligning with 0.618 Fibonacci and daily resistance From a market structure perspective, confirmation will only occur once LINK breaks its current lower-high sequence. As long as $12 holds, the reversal thesis remains valid. Failure to reclaim resistance keeps price range-bound, but a confirmed breakout could mark the beginning of a macro trend shift.