LINK news live: Intraday tone firm but bearish weekly indicators point toward rangebound move

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Chainlink rises 0.51% today

Highlights

Chainlink (LINK) trades at $17.69, below all major moving averages except the MA-200 ($17.67), reflecting persistent short- and medium-term selling pressure.
Chainlink's recent buyback of 63,481 LINK and $24 million increase in reserves over five months signal long-term investor accumulation despite weak retail activity.
LINK is projected to consolidate sideways between $14.71 and $15.80 next week, with less than a 20% probability of breaking above $15.80, given prevailing bearish signals.

Buyback and whale accumulation offsets weak retail flows

Chainlink recently conducted a buyback of 63,481 LINK tokens, supporting sentiment amid generally muted retail activity. Over the past five months, LINK reserves have increased by $24 million, suggesting growing long-term investor confidence. Recent large-scale withdrawals, including $2.2 million in one day, further reflect steady accumulation.

Mixed daily indicators as sellers retain modest momentum edge

Momentum signals on the daily chart are mixed. MACD shows continued bearishness, while ADX reflects a strong but potentially waning trend. RSI, CCI, and Stoch RSI suggest the market is neither oversold nor overbought, though sellers have a slight advantage. BBP indicates sellers have a minor edge intraday, but upside remains possible. The Awesome Oscillator aligns with the existing negative trend. The current price is up a modest 0.51% and sits near the high of today's tight range, with very low volatility and no opening gap. Intraday tone shows strength toward highs, despite a lack of broad bullish confirmation from short-term momentum.

Downward bias expected as bullish breakout remains unlikely

For the upcoming week, LINK is expected to trade between $14.71 and $15.80, with an average price near $15.26. The probability of a move higher is very low (less than 20%), with a price decrease more likely given the bearish weekly signals on RSI and MA-50. The most probable scenario is a sideways consolidation near established supports. A bullish scenario would require clearing the next resistance at $21.31, which looks unlikely in the near term. Alternatively, a bearish breakout below $15.82 could open the way for a deeper decline toward the lower bound of the projected range.

Anton Kharitonov, expert at Traders Union, sees persistent bearish momentum in Chainlink, with price action still capped below all major moving averages and little evidence of short-term bullish conviction. Despite some signs of long-term investor accumulation and token buybacks, momentum readings and technicals suggest sellers maintain control as long as $21.31 remains unbroken. He remains cautious, viewing a further decline or rangebound consolidation as the base case for the upcoming week. "With the probability of a sustained move higher below 20%, I’m only interested in further upside if LINK reclaims $21.31 — until then, defensive positioning makes sense."

Previously, it was noted that seller dominance persisted as mixed signals capped upside potential for Chainlink. Last time we reported that momentum and oscillators show divergence amid moderate intraday weakness.

Source of Data: LINK Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.