LINK is now around $8.4u, down more than 2% today. It’s one of the rare, decent pullbacks you can see in this period.

In the previous month, it rose pretty sharply, with a cumulative gain of more than 10%. A week ago it was still going up, but over these past two days it has started to retrace. Even at the 24-hour high it was still around 8.65; now it has already dropped to around 8.4, and the decline is relatively concentrated.

After a move like this—pumping hard and then suddenly dropping—it’s likely that the earlier chase funds are taking profits. After such a big rally, someone has to exit at least part of the gains to lock them in and be comfortable. This doesn’t count as a full-blown trend reversal; it’s more like a normal washout.

Compared with some other mainstream coins that have been moving sideways and drifting down during this period, the earlier rally in LINK still has a solid base. Even with this two-day pullback, when you stretch it out to look at the past month’s ledger, you’re still in profit—this is somewhat different from many coins in the same period that have been falling nonstop.

At this level, you need to see whether it can hold steady. If the pullback reaches the $8 area and can still be bought up, that suggests the earlier uptrend hasn’t broken, and you could consider adding a bit on dips. If it breaks below $8 and keeps getting dumped, then you may need to reassess whether this wave of the market has already finished. Those who chased higher over the past two days should best not rush in first—waiting for the pullback to stabilize would be more worthwhile. #link $LINK