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Chainlink ($LINK) price has staged a strong recovery from its $7.00 double-bottom, climbing back toward a resistance zone that could determine whether the rally has further room to run. With momentum indicators turning positive and exchange inflows remaining subdued, the setup is improving, but $LINK still faces a major hurdle before entering the $10 territory. Can bulls clear this resistance and turn the recovery into a sustained breakout?
$LINK Price Holds Above the Midline of the Rising Channel
$LINK has been moving within a rising parallel channel since recovering from the $7.00 double bottom, with the price consistently forming higher lows and higher highs. More importantly, $LINK has been sustaining above the channel’s average band, showing that buyers have maintained control of the recovery rather than allowing price to slip back toward the lower boundary. This makes the current structure constructive as $LINK approaches the upper portion of the channel.
The price is now nearing the $9.00 resistance, which also sits close to the upper boundary of the current structure. A decisive breakout above this area could signal that $LINK is gaining enough momentum to extend the channel breakout toward the $9.97–$10 zone. However, failure to clear the resistance could trigger a pullback toward the channel’s average band, making it an important dynamic support to monitor.
Momentum also remains supportive, with RSI around 60 and MACD turning higher. Together, the rising channel, sustained position above its average band and improving momentum suggest that the recovery remains intact — but $9 is where $LINK needs to prove that the buyers can actually take control of the next leg.
$LINK Exchange Inflows Fall, Easing Immediate Selling Pressure
The recovery is also supported by a decline in Chainlink exchange inflows, which have fallen to around 1.9K from the 5K–6K range seen in June. The drop suggests fewer $LINK tokens are flowing toward exchanges, potentially reducing immediate sell-side pressure as price continues to recover.
This becomes particularly important as $LINK approaches the $9 resistance. If exchange inflows remain subdued while price holds above the channel’s average band, it could give bulls a stronger foundation to challenge the resistance. However, the declining inflow alone does not confirm a breakout, making the price reaction around $9 the key signal to watch.
Can $LINK Price Reach $10?
$LINK’s setup remains constructive as long as the price continues to hold above the average band of the rising channel. A breakout above $9 would strengthen the bullish structure and put the $9.97–$10 zone in focus, while sustained buying could eventually open the path toward $11. However, rejection near $9 could send Chainlink price back toward the channel’s mid-band, making the next few sessions crucial for determining whether this is a genuine breakout or another failed attempt.