LINK Price Rebounds Above $12 as Reserve Buying and Bullish Setup Draw Attention

Chainlink's (LINK) price has rebounded above $12 after recovering from its recent lows, with traders now watching resistance around $12.80-$13.

The move follows a rebound from weekly support around $10.70-$11, an area that has recently attracted buyers.

Crypto analyst Hov said LINK has completed a five-wave advance from its September low and could still have another move higher.

Hov's analysis leaves room for another move higher through a possible Wave C or Wave 3 structure before a larger retracement develops.