Market Overview: Chainlink (LINKUSDT) 24-Hour Analysis – 2025-08-22

• Chainlink (LINKUSDT) experienced a bearish 24-hour trend with a 1.6% drop from $25.28 to $24.78.
• Key resistance at $25.0–25.2 and support at $24.75–24.85 were tested multiple times with failed breakouts.
• Volatility remained elevated with volume spiking above 170,000 during key dips.
• RSI remained in oversold territory, suggesting potential for short-term rebound but no clear trend confirmation.

At 12:00 ET–1 on 2025-08-21, Chainlink (LINKUSDT) opened at $25.28, hitting a high of $25.33 and a low of $24.63 before closing at $24.78 at 12:00 ET on 2025-08-22. The total 24-hour volume amounted to 1,724,893.3 units, with notional turnover reaching $43,198,080.

Structure & Formations

Price action on the 15-minute chart showed multiple failed attempts to retest $25.0–25.2 resistance, marked by bearish engulfing and shooting star patterns. A significant bearish divergence formed around 20:15–20:30 ET, with price failing to reclaim the $25.0 level. A strong support area emerged at $24.75–24.85, where buying pressure reappeared on multiple occasions, including a bullish hammer at 02:15–02:30 ET.

Moving Averages

LINKUSDT traded below both the 20-period and 50-period moving averages on the 15-minute chart, indicating short-term bearish bias. On the daily chart, price remained above the 200-period moving average, suggesting the long-term bullish structure remains intact, though the 50-period MA is now acting as overhead resistance near $25.00.

MACD & RSI

The 15-minute MACD showed bearish momentum, with the histogram shrinking slightly during the late-night rebound but remaining negative overall. The RSI dipped into oversold territory during the lows near $24.63 but failed to trigger a sustained recovery, suggesting a lack of conviction in the short-term bullish bounce.

Bollinger Bands

Volatility expanded significantly during the drop to $24.63, with price reaching the lower band. The upper band remained around $25.2–25.3 for most of the session, acting as a key resistance cluster. Price spent most of the session in the lower half of the bands, confirming the bearish tone.

Volume & Turnover

Volume spiked during major breakdowns, particularly at 17:15–17:30 ET (volume: 228,776 units) and 01:15–01:30 ET (volume: 101,975 units), confirming bearish pressure. Notional turnover aligned with price movement, with no significant divergence noted between price and volume.

Fibonacci Retracements

Applying Fibonacci to the key 15-minute swing from $25.33 to $24.63, the 61.8% retracement level is at $24.93, which acted as a minor support/resistance during the session. On the daily chart, the 50% retracement of the broader $25.0–24.75 range is at $24.875, where price found support multiple times.

Chainlink appears to be consolidating within a tight range, with buying interest visible at key support levels but no clear breakout in sight. A potential bounce from the $24.75–24.85 area could see a test of $25.00, but bearish momentum remains intact unless volume increases significantly on an upward move. Traders should monitor for a decisive close above $25.25 or below $24.65, with the risk of further consolidation likely in the near term.