* LINK is consolidating near $8.40, with the $8.40-$8.65 zone acting as the key breakout level.
* Active addresses and transfers have declined sharply, creating a bearish divergence against a relatively stable LINK price.
* DTCC’s planned Q4 2026 launch and continued whale accumulation are supporting the longer-term bullish outlook for Chainlink.
Chainlink is getting close to a level that could decide where the next big move comes from. After losing more than 71% from the late-2025 high near $28.69, the LINK price has settled around $8.40, and that is where the market is starting to focus.
We took a look at the LINK charts, and the short-term setup is getting tighter. On the daily chart, LINK is trading only about 2.9% below the 100-day moving average at $8.654, and the daily RSI has recovered to 52.8, which is a noticeable improvement from the weaker readings earlier this year.
The shorter timeframe is not as strong. On the 4-hour chart, the LINK price is trading almost directly on the 100-period SMA near $8.40, and the RSI is around 46.3. That tells us buyers have not fully taken control yet.
The on-chain data is the part that makes the picture less straightforward. Daily active addresses have fallen from about 4,200 to 2,600, a drop of roughly 38%, and daily transfers have fallen from around 9,500 to 4,000, a decline of nearly 58%. What stands out is that the LINK price has stayed relatively stable despite that slowdown in network activity.
The key level is $8.50. If buyers can push the LINK price above that level and then reclaim the daily moving average near $8.654, the next area traders will watch is the $9-$10 zone. If support fails instead, attention shifts back to $8.29, $8.00, and then $7.50.
For a near-term target, CoinCodex’s 1-month forecast points to $9.88, which would represent moderate upside from current levels if LINK can finally break through the $8.65-$9.00 resistance area.
* Active addresses and transfers have declined sharply, creating a bearish divergence against a relatively stable LINK price.
* DTCC’s planned Q4 2026 launch and continued whale accumulation are supporting the longer-term bullish outlook for Chainlink.
Chainlink is getting close to a level that could decide where the next big move comes from. After losing more than 71% from the late-2025 high near $28.69, the LINK price has settled around $8.40, and that is where the market is starting to focus.
We took a look at the LINK charts, and the short-term setup is getting tighter. On the daily chart, LINK is trading only about 2.9% below the 100-day moving average at $8.654, and the daily RSI has recovered to 52.8, which is a noticeable improvement from the weaker readings earlier this year.
The shorter timeframe is not as strong. On the 4-hour chart, the LINK price is trading almost directly on the 100-period SMA near $8.40, and the RSI is around 46.3. That tells us buyers have not fully taken control yet.
The on-chain data is the part that makes the picture less straightforward. Daily active addresses have fallen from about 4,200 to 2,600, a drop of roughly 38%, and daily transfers have fallen from around 9,500 to 4,000, a decline of nearly 58%. What stands out is that the LINK price has stayed relatively stable despite that slowdown in network activity.
The key level is $8.50. If buyers can push the LINK price above that level and then reclaim the daily moving average near $8.654, the next area traders will watch is the $9-$10 zone. If support fails instead, attention shifts back to $8.29, $8.00, and then $7.50.
For a near-term target, CoinCodex’s 1-month forecast points to $9.88, which would represent moderate upside from current levels if LINK can finally break through the $8.65-$9.00 resistance area.
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