Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
LINK LINK pulls back quickly after rushing high to nearly $13.70
This week, Chainlink's native token LINK experienced a rapid pullback. Previously, LINK quickly climbed to a high of nearly $13.70 in early September. After rallying from below $9.50, LINK reversed and fell to about $11.56 as seller power strengthened.
Key technical indicators turn bearish
LINK's recent decline has brought it back to its pre-trading range since the end of August, an area that has attracted traders 'attention due to past buying interest. Price momentum is currently weakening, and the Relative Strength Index (RSI) has dropped to 31.58, close to oversold territory.
As another popular momentum indicator, the Smoothing Similarities and Differences Moving Average (MACD) has also moved further into bearish territory. The indicator's signal line is falling, and the red bar chart is getting larger, indicating increasing selling pressure. LINK's technical indicators reflect strong selling sentiment, with the RSI approaching oversold levels and the MACD becoming more negative as prices move back towards the older support range.
Trading volumes fall, traders reduce exposure
Data from the derivatives monitoring platform shows that trading activity has cooled. CoinGlass, a leading provider of cryptocurrency data analysis, reported that LINK's trading volume dropped to $507.51 million, with open contracts worth $645.9 million. These data suggest that in the context of increased market volatility, market participants are reducing leveraged positions to reduce risk exposure.
Cryptocurrency analyst More Crypto Online described the current pullback as the initial "A wave" in a potential three wave of retracements. The analyst pointed out that US$12.30 to US$13.21 is the first key resistance area; a break through this range may mean a return of momentum, while a failure to regain a firm footing at this level may extend the correction time.
On-chain activity shows resilience of network growth
Chainlink's network activity remains strong despite price correction. Data from analytics firm Sanitation Intelligence shows that the number of newly created addresses grew from about 974 per day in early August to a peak of 1,601, and then stabilized at around 1,140. Active addresses have also followed this trend, increasing from approximately 3,599 to a peak of 5,572 and currently hovering around 4,821.
Sanitation Intelligence emphasizes that this increase in new addresses and active addresses is unique to Chainlink. Compared with blockchains such as Solana and Ethereum during the same period, LINK's user engagement is particularly resilient, highlighting the continued application value of the decentralized oracle network.
Mini Dictionary: Chainlink is a decentralized oracle network designed to connect blockchain-based smart contracts with real-world data to achieve secure and reliable data feed integration.
Sanitation Intelligence noted that despite falling prices, the number of new and active Chainlink addresses continues to grow, indicating that network adoption continues compared to other major blockchains. However, analysts warned that wallet address metrics have limitations. These numbers do not distinguish whether the event is from new users or duplicate participation by existing users.
Market observers are now watching whether LINK can stabilize above its early support. Focus on watching includes the resistance area of US$12.30 to US$13.21, as well as changes in trading volume, open interest, RSI and MACD to judge the next decisive move.
![Top 6 altcoins in the next 100-fold crypto bull market in 2026 [CoinMarketCap Recommended]](/d/file/20260911/3c4ea3e9add411f1b20ab80d425f811e.jpg)
