Chainlink/Tether Market Overview (LINKUSDT) — 2025-11-09

• Price swung between $15.10 and $15.94, closing higher near the session high.
• RSI indicated overbought levels late in the day, suggesting potential short-term profit-taking.
• Volatility expanded mid-day before consolidating near key resistance levels.
• Volume surged in the afternoon, confirming strength in the upper end of the range.
• Bollinger Bands showed a recent expansion, indicating heightened market activity.

Chainlink/Tether (LINKUSDT) opened at $15.26 on 2025-11-08 at 12:00 ET and closed at $15.44 at the same time on 2025-11-09. The pair traded as high as $15.94 and as low as $15.08, with total volume reaching approximately 989,224.13 units and turnover of roughly $14,549,500. Price action has been volatile but trending higher in the final hours of the 24-hour period.

Structure & Formations

Key support levels were identified around $15.10 and $15.08, where price found buying interest during early morning hours. Resistance levels emerged near $15.35 and $15.45, where candlestick formations suggested indecision and consolidation. A notable bullish engulfing pattern formed during the early evening hours (EST) as price surged from $15.22 to $15.44 within a single 15-minute interval, signaling short-term strength.

A doji formed at 12:45 ET, indicating potential exhaustion in the upward move and a possible reversal. This could serve as a watch point for bearish sentiment in the coming hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed above key support levels in the late afternoon, reinforcing the bullish bias. On the daily chart, price is above the 50-day and 100-day moving averages, suggesting a continuation of the longer-term uptrend, although it remains below the 200-day MA, indicating a mixed sentiment over a longer time horizon.

MACD & RSI

The MACD showed a positive divergence in the afternoon hours, indicating strengthening momentum. RSI climbed into overbought territory above 70 in the late evening, suggesting short-term exhaustion. Investors may want to monitor a pullback to the RSI 50-60 zone as a potential entry signal for a continuation of the bullish trend.

Bollinger Bands

Bollinger Bands expanded significantly during the afternoon and evening hours, reflecting higher volatility. Price traded near the upper band during a sharp move in the late evening, indicating strength but also the risk of short-term correction. A move back to the middle band may signal a consolidation phase before the next directional move.

Volume & Turnover

Volume spiked sharply in the afternoon and evening, particularly around 14:30–15:45 ET, coinciding with the strongest price rally of the day. Notional turnover also surged during this period, confirming the strength of the move. However, a divergence appears in the late night as volume and price both declined, suggesting caution from traders ahead of potential reversal.

Fibonacci Retracements

Applying Fibonacci to the 24-hour swing from $15.08 to $15.94, the 61.8% retracement level sits at around $15.64, which may act as a critical area of resistance ahead. The 38.2% level at $15.46 could serve as a potential support/resistance zone in the near term. On a shorter time frame, the 50% retracement of the last 4-hour rally is at $15.46, which price briefly touched before continuing higher.

Backtest Hypothesis

Given the observed overbought RSI levels and strong volume confirmation, a backtesting strategy could be constructed around the 15-minute RSI levels. A potential approach might involve going long on a break above the 70 RSI level during a confirmed 15-minute bullish breakout, with an exit when RSI falls below 50 or a fixed 1.5% stop-loss. This approach would align with the observed strength in the late evening price action and could provide a test of whether the strategy would have been profitable in similar historical conditions.