Chainlink [LINK] gained 5% over the past week after holding support near $7.52. Instead of breaking lower, LINK rebounded toward the $8.39–$8.42 range, shifting short‐term momentum cautiously upward.
Meanwhile, Chainlink’s reserve climbed to 2 million LINK, valued at roughly $17 million. Revenue also increased sevenfold, signaling a sharp acceleration in operational activity.
Notably, this growth was not cosmetic. It reflected strengthening protocol fundamentals beneath the surface.
1.71M LINK ETF weekly inflows
LINK ETFs have posted inflows every week since their launch. This week alone added about 1.71 million LINK. Notably, there have been no recorded outflows, showing that institutions have remained consistently committed.
As a result, accumulation continued quietly beneath surface volatility. Meanwhile, retail participation looked hesitant near resistance. Therefore, capital flows stayed strong despite compressed price action.
KEY support and rebound to $8.39
LINK price tapped the lower boundary of the symmetrical triangle at $7.52.
Instead of breaking down, it rebounded sharply toward the $8.39–$8.42 range. That reaction showed buyers stepped in with intent rather than hesitation.
At press time, the RSI dropped below 32 for the first time in its history. That level screamed accumulation, not panic. Selling pressure looked exhausted, and dip buyers clearly sensed an opportunity.
However, reclaiming higher levels remained unfinished business. Failure to build sustained momentum still risked another liquidity sweep. Therefore, structure held, but conviction required confirmation beyond a relief bounce.
On the lower timeframes, LINK formed a bullish flag, similar to several major caps. Historically, that pattern preceded strong upside expansion. As a result, expectations for a breakout began building aggressively.
At the same time, LINK hovered around the breakout zone on the 4-hour timeframe. Meanwhile, the MACD histogram flipped positive, signaling strengthening bullish momentum. Bulls were no longer passive; they were pressing forward decisively.
Will $9–$9.3 liquidity pull LINK higher?
Looking at CoinGlass data, liquidity clustered heavily between $9 and $9.3. In particular, this zone was built into a visible magnet for price expansion. Therefore, momentum could accelerate if buyers pushed upward decisively.
On the other hand, liquidity between $7.8 and $8 still sat exposed. Looking ahead, the price would likely hunt one side aggressively. The market waited for that decision.
Final Thoughts
- Reserve growth and relentless ETF inflows strengthened LINK’s underlying position.
- However, reclaiming $9–$9.3 remained critical to avoid another downside sweep.
