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Following
LINK LINK did not rise on the forecast day.
Standard Chartered Bank's forecast on August 10 set LINK's target price at US$13 at the end of 2026 and US$200 in 2030, but the market did not respond that day. Prices remained around US$8.22-US$8.26, below the 0.382 Fibonacci pullback and the 100-day simple moving average. The forecast predates the rise, but timing alone does not prove that it triggered buying.
The first reaction occurred a day later. LINK rose about 6%, breaking through the upper edge of the end-July range and hitting the 200-day moving average. As previously analyzed, the 200-day average and a 0.5 Fibonacci correction near $8.9 still constitute resistance.
LINK lingered near the above resistance zone for several trading days, then broke through the 0.5 level and accelerated its rise on August 15. The latest K-line opened at around $8.95, once touching $9.7, which was about $9.5 as of writing.
New support tests are in the US$8.80-US$9 range
As the daily chart shows, LINK is currently above the 50-day moving average (US$8.20), 100-day moving average (US$8.5) and 200-day moving average (US$8.8). The 200-day average is just below the 0.5 Fibonacci correction level (US$8.9), forming a resistance area that previously limited prices. LINK has now broken through these two barriers and further crossed the 0.618 pullback level close to $9.4.
Chainlink's daily price chart shows a breakthrough rise to around US$9.5.
The K-line on August 15 has not yet closed, so the trend of breaking through US$9.4 is still intraday. If the daily closing price is above this level, the breakthrough signal will be strengthened, but only if the level is held subsequently can it be confirmed as support. A fall below this level would be of little significance, as the stronger support band lies between about $8.80 and $9, where the 200-day moving average, 0.5 Fibonacci pullbacks and previous price highs overlap.
If the price retracts back to this region and then rebounds, it indicates that buyers are willing to defend the previous resistance level and the structure is still intact. If the daily price closes below the 200-day moving average (about $8.8), it will be even more disruptive and will bring $8.5 back into the spotlight. The area below contains the 0.382 Fibonacci pullback and the 100-day moving average, and is also the top of the previous range.
The next target is US$10, but the momentum has been overstretched
The 0.786 Fibonacci pullback level is at US$10, almost completely coinciding with the psychological threshold of US$10. The region served as a pivot point during the May decline. If this level is exceeded, the next visible resistance level will be a May high of around $11.
The daily RSI has risen to about 72, above the regular overbought threshold of 70. The reading does not signal an immediate reversal, but suggests that the rally has extended rapidly. Trading volume currently reaches 2.1 million LINK, which is higher than most recent trading days. These two indicators were still incomplete hours before the daily close.
Technical indicators and price levels describe current market conditions and do not guarantee future performance. Market data can change quickly, especially before the daily K line closes. This article is for reference only and does not constitute investment advice.
