Trading near $12.95, Chainlink faces a narrow corridor of technical hurdles. The 20-day simple moving average, currently at $13.75, acts as the primary barrier to a sustained breakout. While the token has managed to hold above its 50-day moving average of $12.59, momentum indicators on the daily chart remain muted. The Bull Bear Power indicator is currently negative, suggesting that the recent price bounce lacks the conviction seen during the September advance.
In section Cryptocurrency
Chainlink Struggles Under Overhead Resistance After September Rally
Chainlink has retreated nearly 18% from its late-September peak of $15.74, leaving investors to weigh a precarious recovery against a cluster of overhead liquidation levels. While the token recently reclaimed its 50-day moving average, it remains locked in a battle to clear significant short-term resistance near $13.75.
Despite the daily volatility, weekly metrics offer a more stable outlook. The Chaikin Money Flow remains positive at 0.15, indicating that buying pressure has not entirely evaporated during the correction. Market analysts, including Team LAMBO Charts, remain optimistic about a potential move toward the $16.50–$19.50 range, though they caution that a further pullback could materialize before any significant upward momentum. This outlook is supported by CoinGlass data, which shows heavy liquidation clusters between $14.70 and $15.80, suggesting that any recovery attempt will likely face intense selling pressure as it approaches these levels.
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