Chainlink's trading volume jumped 65% in 24 hours as LINK tries to recover from its latest pullback and retest $12. Futures activity is surging across major exchanges, but net flows still lean negative even as traders keep a strong long bias.
Chainlink is seeing another sharp jump in trading activity as LINK tries to recover from its latest correction. The $12 resistance level is back in focus, with futures volume on several major exchanges climbing more than 40% to 60% in the past day.
LINK isn't giving up
LINK now trades at about $11.40 after a volatile few weeks. Before sellers stepped in, the asset gained nearly 70% rising from about $8.00 in early August to a peak above $13.50 in September. The correction that followed pulled LINK back toward $11, but the wider breakout structure has not been eliminated.
Trading activity is now resuming. Binance LINK/USDT futures volume stands at approximately $113 million, up about 53% over the past day, while OKX and Bybit increased by about 44% and 52% respectively. Some smaller venues recorded even higher percentage jumps.
Higher volume, however, doesn't always signal bullish pressure. For long stretches of the day, futures flows remain negative: LINK recorded net futures outflows of about $1.84 million over four hours and $3.86 million over twelve hours. Spot flows across the one-, four-, eight-, and twelve-hour windows are negative as well.
Positioning tells a different story. The top-trader position ratio is greater than 2.2, and Binance's account long/short ratio is approximately 1.46, so traders continue to lean heavily toward longs. If demand persists, that bias could support a breakout — but if LINK loses support, the heavy long positioning raises the risk of liquidations.
Chainlink back above key levels
Technically, the structure still looks constructive. Following August's breakout, LINK trades above its major moving averages, with the shorter averages rising quickly. The market has room for another move, as the RSI has cooled toward the mid-50s after previously reaching overbought territory.
The first barrier remains $12. Bulls have struggled to hold this level as support despite repeated tests, but a consistent volume push and a daily close above $12 could open the door to $12.50 and eventually the September high of $13.50. Even with the 65% volume expansion giving LINK more liquidity and attention, buyers still need to turn that activity into real spot demand.
Source: U.Today
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