LINK Overbought at $11.73: Analyst Sees Controlled Pullback Before Next Leg

LINK is trading at $11.73, but momentum has flatlined as the market signals it's overbought. The Relative Strength Index (RSI) is at 79, a textbook warning sign that the price may be due for a correction.

The rejection of LINK at $12.01, its immediate resistance wall, suggests that the rally needs to earn its next level rather than simply gap through it. The absence of any meaningful catalyst or major news anchor in the past 24 hours means this move is entirely technical, driven by overbought conditions.

The bull structure remains intact, with LINK having ripped above every significant moving average, but the compression ceiling directly above current price poses a challenge. A controlled pullback to $11.40 is the base case before the next leg up, according to analyst Zach Anderson.