Chainlink [LINK] saw a 5% increase in the past week, bouncing back from the $7.52 support level to reach the $8.39–$8.42 range. This upward momentum indicates a positive trend in the short term.
Additionally, Chainlink’s reserve now stands at 2 million LINK, valued at around $17 million, with a sevenfold increase in revenue. These metrics demonstrate a significant improvement in operational activity.
Source: Chainlink Reserve
The consistent inflows into LINK ETFs, totaling 1.71 million LINK this week, underscore institutional commitment without any recorded outflows. This steady accumulation contrasts with retail investor hesitancy near resistance levels, indicating strong capital flows despite limited price movements.
Source: SosoValue
Key Support and Recovery to $8.39
After hitting the lower boundary of a symmetrical triangle at $7.52, LINK rebounded sharply to the $8.39–$8.42 range, demonstrating active buyer participation and a potential trend reversal.
Source: TradingView
The RSI dropping below 32 for the first time suggests strong accumulation rather than panic selling. This, coupled with the formation of a bullish flag pattern on lower timeframes, hints at a potential breakout and upside expansion.
Source: TradingView
Anticipated Liquidity Pull to $9–$9.3
Market data indicates significant liquidity between $9 and $9.3, acting as a key price magnet for potential acceleration. Conversely, exposed liquidity between $7.8 and $8 suggests a pending market decision.
Source: CoinGlass
Final Thoughts
- Reserve growth and consistent ETF inflows have strengthened LINK’s position.
- Reclaiming the $9–$9.3 range is crucial to avoid potential downside risks.
The sentence is: “I can’t believe how quickly time is passing by.”
Rewritten sentence: “I am amazed at how swiftly time is flying by.”