While buyers remain active, the market is now entering a decision phase.
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At the start, LINK showed a clear recovery structure, printing higher lows from the $8.30-$8.50 base. This established a short-term uptrend.
However, the rally lost momentum near the $9.60-$9.80 resistance zone, where sellers took control.
Now, Chainlink’s price is compressing just below mid-range resistance. This signals indecision.
Momentum indicators have turned cautious, and the Awesome Oscillator (AO) has flipped negative.
This shift indicates weakening bullish momentum after a strong bullish phase. The histogram is printing red bars, suggesting sellers are gradually gaining control.
At the same time, the Bull Bear Power (BBP) remains below zero. This reinforces the idea that bears currently have slight control, even though the price hasn’t broken down significantly.
Together, these indicators point to fading upside pressure rather than a full bearish reversal.
If buyers regain momentum and push above $9.60, the structure shifts back to bullish. In that case, a move toward $9.80 becomes likely.
LINK Positioning Still Cautious
Notably, Chainlink’s derivatives market is flashing early signs of a sentiment shift, even as price action remains subdued.
The funding rate has stabilized and turned slightly positive, indicating that traders are gradually leaning long after an extended period of uncertainty.
However, conviction is still thin. Funding remains close to neutral, which suggests that aggressive positioning has yet to return.
This aligns with LINK’s price structure, where the asset has traded near $9 despite months of decline.
If funding strengthens alongside price, it would confirm bullish continuation. Conversely, a drop back into negative territory would signal fading confidence.
LINK Price Outlook: Altcoin Breakout Possible
On the daily chart, LINK is attempting stabilization after a prolonged downtrend, but conviction remains fragile.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
