Tarriff sentiment eases, market sentiment shifts, and LINK's bulls finally have a chance to turn things around. As the most active development project in the DeFi ecosystem, Chainlink's fundamentals have always supported market confidence, and the long-term logic remains valid.

The story on the chart is very clear: how important is the $11.90 level? It has been repeatedly touched, each time triggering a rebound. As long as this level holds, there is still about 15% upside potential to $14; but once it breaks, market sentiment could reverse instantly.

In the short term, the outlook is not ideal—price is still below the 50-day EMA, and momentum is not particularly strong. However, LINK's history shows that it is not always constrained by moving averages. Derivatives data is even more interesting: leveraged longs clearly dominate, with dense support below $11.88. This is the current situation—confidence is recovering, but the real test has just begun.