Market Overview for Chainlink/Tether (LINKUSDT) – 2025-11-07

Summary
• Price surged from $14.40 to a high of $15.61 amid strong bullish momentum.
• Key resistance at $15.00 was tested and broken during the 24-hour period.
• Volatility increased significantly, with a 65% max drawdown in backtested performance.
• Volume spiked in the second half of the day, confirming the strength of the rally.
• RSI reached overbought levels, suggesting possible short-term pullback.

Chainlink/Tether (LINKUSDT) opened at $14.40 at 12:00 ET − 1 and closed at $15.49 at 12:00 ET on 2025-11-07. The 24-hour high was $15.61, and the low was $14.31. Total volume amounted to 2,210,969.51 LINK, and notional turnover was approximately $33,019,681.08.

Structure & Formations

Price moved in a strong bullish channel throughout the session, with the key support level forming at $14.50–$14.60 and the resistance breaking above $15.00–$15.10. A bullish engulfing pattern formed around 05:30–06:00 ET, confirming the resumption of the uptrend. A doji candle around 09:30 ET indicated a minor consolidation.

Moving Averages

The 15-minute 20-period MA and 50-period MA were both in bullish alignment, with price staying above both. On a daily timeframe, the 50-day MA (approx $13.80–$14.00) and 200-day MA (approx $11.20–$11.40) were decisively above the current price, reinforcing the long-term bullish bias.

MACD & RSI

MACD remained above the zero line with a positive histogram, indicating strong bullish momentum. RSI reached overbought levels above 70 in the late hours of the session, raising the possibility of a short-term correction.

Bollinger Bands

Price traded near the upper Bollinger band for much of the session, indicating high volatility and bullish pressure. A period of contraction occurred around 09:00–10:00 ET before another expansion.

Volume & Turnover

Volume increased substantially from 05:00–08:00 ET, confirming the strength of the rally. A price and turnover divergence appeared around 10:30–11:00 ET, suggesting a temporary slowdown. Total turnover was concentrated in the second half of the session.

Fibonacci Retracements

The 38.2% retracement level at $14.90 and the 61.8% level at $15.10 were key psychological levels during the rally. Price held above $14.90 before surging through $15.10 toward the session high of $15.61.

Backtest Hypothesis

The backtesting strategy focused on using RSI overbought conditions as a mean-reversion signal from 2022–2025. However, results showed a total return of approximately -56% and an average loss per trade of 0.7%. The poor performance highlights the importance of aligning indicators with current market conditions and avoiding over-reliance on single signals. In this case, the RSI overbought signal failed to provide a profitable edge.

The recent price action in LINKUSDT has shown strong bullish momentum, supported by increasing volume and a break above key resistance. However, RSI overbought levels suggest a potential short-term pullback. Traders may want to monitor the $15.00–$15.10 level as a potential support-turned-resistance area.

Looking ahead, the next 24 hours may see a test of the $15.10–$15.20 level, with a potential retracement to $14.70–$14.80 if overbought conditions unwind. As always, investors should remain cautious of sudden volatility and assess position sizing accordingly.