Buy-side strength grows for Chainlink, but mixed on-chain signals challenge a sustained rally toward $18.
Key Takeaways
Содержание статьи:
- LINK rebounded from support amid rising derivatives volume, strong long interest, and whale activity. While bullish signals grow, uneven on-chain data may limit momentum toward $18 resistance.
Chainlink [LINK] has rebounded from the lower boundary of its parallel channel as taker demand and long positions surge across derivatives markets, suggesting renewed investor confidence.
At press time, the price traded around $13.50, just above the $12.50 support level, which has historically triggered upward momentum. This rebound aligns with a long-term ascending structure dating back to mid-2023.
If momentum holds and buying interest persists, a retest of the $18 mid-channel resistance appears plausible in the near term.
Source: X/Ali
Will spot market strength drive LINK beyond resistance?
The Spot Taker CVD over the past 90 days continues to show a dominant buy-side presence. This trend implies that aggressive buyers are stepping in during consolidation phases.
As long as LINK sustains above $12.50 with rising taker demand, short-term sentiment may remain in the bulls’ favor.
The current accumulation suggests strong hands are preparing for an upward breakout, making spot behavior a critical indicator to monitor for the next move.
Source: CryptoQuant
Is Chainlink’s network activity hinting at a stronger base?
On-chain Address Activity presents a mixed but slightly optimistic picture. Active Addresses increased by 6.42%, reflecting growing network engagement, while new addresses declined by 2%.
Zero-Balance Addresses surged 11.68%, which could indicate renewed wallet movement or repositioning of funds.
Despite the modest growth, the consistency in active participation supports the narrative of a maturing and sustained user base rather than short-lived speculative activity.
Source: IntoTheBlock
Besides, transaction counts remain heavily skewed toward micro and large-scale transfers.
While $1M–$10M transactions spiked by 81.82%, most mid-range brackets declined, including a 13.09% drop in $1K–$10K and a 23.64% dip in $10K–$100K volumes.
This disparity highlights a cautious stance among mid-tier investors, even as select whales reengage.
Therefore, although high-value transactions offer bullish cues, the broader market lacks full-spectrum participation.
Can rising derivatives interest support Chainlink’s breakout?
At the time of writing, derivatives activity saw a sharp increase, as trading volume jumped 40.49% to $1.18 billion and Open Interest climbed 11.60% to $738.51 million.
Meanwhile, Binance data showed that 68.32% of traders held long positions, pushing the Long/Short Ratio to 2.16.
This bullish bias reflects growing confidence among leveraged participants. If reinforced by spot momentum and on-chain support, this could act as a launchpad for the next leg up.
Source: CoinGlass
Can LINK extend its rally toward $18?
With Chainlink rebounding from strong structural support and buy-side pressure increasing across both spot and derivatives markets, the conditions appear favorable for continued upside.
However, uneven on-chain transaction activity and lagging retail volume may still cap momentum.
If current trends persist, LINK could attempt a move toward the $18 resistance zone.
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