Key Takeaways
- LINK has surged 35% in the last month, with technical analysts eyeing a move toward $15
- Chainlink-focused ETF products recorded $5.36 million in net inflows during September
- The token currently hovers around $11.50, with crucial support established at $11.46
- Large-scale investors purchased approximately 10.36 million LINK tokens (valued at ~$120M) following a recent price decline
- A decisive move above $12 could trigger a rally toward $13.30, followed by $14 and the $15 milestone
Chainlink (LINK) is currently valued at $11.57, reflecting a 1.36% decline over the last day. The token has fluctuated between $11.46 and $11.80 in today’s session, maintaining an $8.65 billion market capitalization alongside $307.47 million in daily trading activity.
Over the past month, LINK has delivered impressive gains of 35%, capturing the attention of retail traders and institutional capital alike. Despite this recent rally, the asset remains 78.05% below its peak of $52.70, which was reached in May 2021.
Market analyst Ali Charts highlighted on X that whale wallets appear to have strategically purchased during the recent downturn. After LINK corrected 17% from $13.68 to $11.29, major holders accumulated approximately 10.36 million tokens over a 96-hour window—a position worth roughly $120 million. According to Ali Charts, this pattern of buying during sharp pullbacks typically indicates confidence in an upcoming price recovery.
September Brings Fresh ETF Capital
The Chainlink ETF landscape showed renewed strength in early September. Bitwise’s CLNK product and Grayscale’s GLNK fund attracted $1.09 million and $4.27 million respectively on September 9 and 10. No additional flows were recorded on September 11 for either vehicle.
Cumulative lifetime inflows for both Chainlink ETF products have now reached $151.76 million. The combined assets under management total $181.83 million, accounting for approximately 2.10% of LINK’s total market valuation.
Grayscale’s GLNK continues to dominate with $135.88 million in managed assets, while Bitwise’s CLNK oversees $45.95 million.
Critical Price Levels in Focus
From a technical perspective, $11.46 represents the most recent validated support floor. Immediate resistance zones are positioned between $11.57 and $11.60, with $11.80 serving as the next significant barrier.
The MACD histogram displays a modest positive value of 0.011, indicating that bearish pressure may be diminishing. Meanwhile, the RSI registers at 38.65—above oversold territory but not yet signaling robust buying momentum.
A four-hour candle close above $12 would provide the initial bullish confirmation. Such a move could reestablish the trajectory toward the $13.30 swing high. Clearing that threshold would redirect attention to $14, followed by the $15 objective—representing approximately 29% upside from current pricing.
Crypto analyst Moe pointed to a LINK/BTC chart revealing the trading pair is consolidating within an extended descending pattern. The pair is currently testing a demand zone that could serve as a reversal point, although no definitive breakout has materialized.
The Chaikin Money Flow indicator reads -0.39, signaling that selling volume has exceeded buying activity during the measurement period. For improved near-term momentum, LINK must recapture the $11.55 and $11.60 levels.
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