Chainlink has broken above its $9.04 resistance level, pushing the token to around $9.45 and ending a consolidation phase that started in June. Whale transactions have hit a five-month high, and the next test for LINK is the $9.97 level, though an overbought RSI leaves room for a pullback.
LINK clears its consolidation range
Chainlink has broken out of the range that had held since June, when the token recovered from lows near $7. The breakout candle pushed the price as high as $9.73. LINK is now trading around $9.45 after clearing the $9.04 resistance level.
Chaikin money flow sits at 0.18, pointing to positive buying pressure. The RSI has climbed to 71.40, moving above the 70 threshold that signals the rally may be getting stretched. As a result, some consolidation or profit-taking could follow even as the broader structure stays bullish.
Whale activity climbs to a five-month high
Santiment data shows 246 whale transactions worth more than $100,000, the highest count since March. Meanwhile, wallets holding between 100,000 and 10 million LINK now control 46.57% of the total supply. That equals roughly 466.31 million LINK. This pickup in large-holder activity coincided with the move toward and through the $9.04 resistance rather than the earlier decline.
Key levels ahead
Holding above $9.04 remains the condition for the breakout to stay intact. The next major hurdle sits at $9.97, followed by the psychological $10 level. Beyond that, $10.80 becomes the next target if buying pressure continues. On the downside, the $8.58–$8.49 zone stands as the support that would keep the broader recovery structure intact should LINK pull back.
Source: Coinpedia Fintech News
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