Chainlink (LINK) Price Surges 12.50% Above Support Level

Chainlink (LINK) has recently demonstrated a strong rebound, with its price surging above the critical $12.50 support level. This movement has been accompanied by a significant increase in derivatives volume, which has jumped by 40.49% to $1.18 billion. This surge in trading activity suggests a growing interest and confidence among investors in the token's potential for further gains.

The price of LINK has been trading around $14.28, just above the $12.50 support level, which has historically been a trigger for upward momentum. This rebound aligns with a long-term ascending structure that has been in place since mid-2023. The increase in taker demand and long positions across derivatives markets indicates renewed investor confidence in the token. If this momentum holds and buying interest persists, there is a plausible scenario where LINK could retest the $18 mid-channel resistance in the near term.

The spot market has also shown strength, with the Spot Taker CVD over the past 90 days indicating a dominant buy-side presence. This trend suggests that aggressive buyers are stepping in during consolidation phases, which could drive the price beyond the current resistance levels. As long as LINK sustains above $12.50 with rising taker demand, short-term sentiment may remain in the bulls’ favor. The current accumulation suggests that strong hands are preparing for an upward breakout, making spot behavior a critical indicator to monitor for the next move.

On-chain data presents a mixed but slightly optimistic picture. Active Addresses increased by 6.42%, reflecting growing network engagement, while new addresses declined by 2%. Zero-Balance Addresses surged 11.68%, which could indicate renewed wallet movement or repositioning of funds. Despite the modest growth, the consistency in active participation supports the narrative of a maturing and sustained user base rather than short-lived speculative activity. However, the transaction counts remain heavily skewed toward micro and large-scale transfers, with a significant spike in $1M–$10M transactions by 81.82%. This disparity highlights a cautious stance among mid-tier investors, even as select whales reengage.

Derivatives activity has also seen a sharp increase, with Open Interest climbing 11.60% to $738.51 million. Meanwhile, 68.32% of traders held long positions, pushing the Long/Short Ratio to 2.16. This bullish bias reflects growing confidence among leveraged participants. If reinforced by spot momentum and on-chain support, this could act as a launchpad for the next leg up in LINK's price.

However, uneven on-chain transaction activity and lagging retail volume may still cap momentum. If current trends persist, LINK could attempt a move toward the $18 resistance zone. The conditions appear favorable for continued upside, but investors should remain cautious and monitor the broader market dynamics for any potential shifts in sentiment.