Link Correction complete?

LINK Correction Nearing Completion? Key Levels to Watch
Recap
LINK continues to retrace and lose levels. Price action looks a bit incomplete on the Elliott wave side, but technicals suggest the retracement may be nearing its end.

The Setup
The cleanest scenario would see price make one more leg down into the 12.42 area. That level offers symmetry and structural balance for a completed correction.

If instead price breaks above 15.008, it opens the door for the correction to be considered complete. Still, confirmation would require a strong reaction from that move—not just a quick wick.

The Outlook
A defense of 12.42 would keep the bullish scenario alive. A break below that level, however, would weaken the outlook and raise the probability of an extended correction or trend continuation lower. Namely an impulsive move down. Right now, we have a potential correction, we need the PA to provide proof of what we have. Wave 4s and 5s at matching degrees as what has printed are need to prove an impulse and an invalidation will prove otherwise.

For now, the focus remains on reactions at these two levels. Watch closely—LINK could be setting up its next directional move.