Chainlink (LINKUSDT) Market Overview: A Volatile 24-Hour Move With Mixed Confirmation

Generated by AI AgentAinvest Crypto Technical Radar
Tuesday, Aug 26, 2025 5:34 pm ET2min read
LINK
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Aime RobotAime Summary

- Chainlink (LINKUSDT) fell below its $24.56 opening to $24.17, breaking key support levels before a late NY rally formed a potential bullish reversal pattern.

- Bearish momentum persisted with MACD declining and RSI hitting oversold levels (28-30), while Bollinger Bands widened during the downward swing.

- Afternoon sell-off saw 405k contracts traded at $23.60, but late-volume weakness weakened bullish confirmation as price approached the upper Bollinger Band.

- Fibonacci analysis shows 61.8% retracement at $24.10-24.20, with $24.50 as a critical threshold for retriggering bullish signals amid ongoing bearish trend pressure.

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Chainlink
(LINKUSDT) opened at $24.56 and closed below that at $24.17, with a 24-hour range of $23.08–$24.59.
• Price declined through key support levels before rallying in late NY trading, forming a potential bullish reversal pattern.
• Volume surged during the afternoon ET sell-off, but faded during the late rally, signaling mixed conviction.
• RSI entered oversold territory, suggesting near-term potential for a rebound, though momentum remains bearish.
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Bollinger
Bands expanded during the downward swing, indicating heightened volatility, with price currently near the lower band.

Market Overview

Chainlink (LINKUSDT) opened at $24.56 on 2025-08-25 12:00 ET and closed at $24.17 on 2025-08-26 12:00 ET, with a high of $24.59 and a low of $23.08. Total volume for the 24-hour window was 7.78 million contracts, while notional turnover came in at $193.6 million.

Structure & Formations

The 24-hour price action for Chainlink shows a bearish breakdown from the $24.60–$24.80 resistance cluster, with key support at $24.20 and $23.70 being decisively tested. A notable bullish reversal pattern formed in the final 3 hours of NY trading, with a strong green candle following a bearish session. This may indicate short-term accumulation but requires a close above $24.60 for confirmation.

Moving Averages

On the 15-minute chart, price briefly pierced below the 50-period moving average before closing near it. The 20-period MA acted as a weak support during the afternoon sell-off. On the daily chart, the 50-period MA is above the 200-period MA, suggesting intermediate-term bearish pressure remains in place.

MACD & RSI

The MACD turned negative and is trending lower, reflecting bearish momentum. RSI has dipped into oversold territory (around 28–30), hinting that a rebound may be imminent, but without a divergence in volume or price, this could be short-lived. A move back above $24.50 would be necessary to retrigger a bullish RSI signal.

Bollinger Bands

Volatility spiked as price broke below the lower Bollinger Band during the afternoon sell-off. The bands are currently wide, indicating active market participation. Price is now approaching the upper band again, suggesting a possible countertrend bounce.

Volume & Turnover

Volume surged during the afternoon ET sell-off, reaching a peak of 405,048.34 contracts at $23.60, but declined sharply during the late rally. This lack of follow-through volume weakens the bullish signal. Turnover mirrored volume, peaking during the low at $23.08 before falling off during the rally.

Fibonacci Retracements

On the 15-minute chart, price tested the 61.8% retracement of the recent $23.08–$24.59 move at around $24.10–$24.20. A break above $24.30 would target the 78.6% level near $24.50. On the daily chart, a 61.8% retracement of the larger $23.00–$24.60 swing is near $24.00, with potential for short-term consolidation in this area.

While the late-day reversal offers some hope for a short-term rebound, the bearish momentum and lack of confirming volume remain a concern. Investors should watch for a close above $24.50 for a more favorable risk-reward setup, but be mindful of the broader bearish trend and potential for renewed weakness.