Market Overview for Chainlink/Tether (LINKUSDT) on 2026-01-03

Summary
• Price tested key support levels around $13.05–13.10 before rebounding.
• Volume surged during late-ET bearish moves but failed to confirm a strong breakdown.
• A bullish engulfing pattern emerged near $13.10–13.15, suggesting possible short-term reversal.
• RSI bottomed near 30, hinting at oversold conditions, while MACD crossed from bearish to neutral.
• Volatility expanded in early morning ET, aligning with the breakdown and early rebound.

Chainlink/Tether (LINKUSDT) opened at $13.26 on 2026-01-02 at 12:00 ET, reached a high of $13.43, a low of $12.97, and closed at $13.19 on 2026-01-03 at 12:00 ET. Total volume was 746,364.35, and notional turnover amounted to $9,677,595.13.

Structure & Formations

Price action showed a distinct bearish breakdown below $13.25 around 07:30 ET, with a low at $12.97. This was followed by a strong rebound into the afternoon ET, forming a bullish engulfing pattern near $13.10–13.15. A critical support zone appears established between $13.05 and $13.10, where buying interest returned consistently.

Moving Averages

On the 5-minute chart, the 20- and 50-period moving averages crossed over multiple times, reflecting choppy price action. For the daily chart, the 50- and 200-period lines remained in a neutral alignment, suggesting the asset is consolidating after the recent decline.

MACD & RSI

The RSI bottomed near 30 at 07:30 ET, signaling potential oversold conditions. The MACD moved from a bearish to a neutral position as the price rebounded, with a tentative positive crossover forming late in the session. Momentum appears to be stabilizing, but bearish divergence remains a cautionary signal.

Bollinger Bands

Volatility expanded sharply during the breakdown, with the 20-period Bollinger Bands widening to accommodate the move from $13.25 to $12.97. Price then remained within the bands during the rebound, showing some consolidation.

Volume & Turnover

Volume spiked during the bearish breakdown, especially between 07:30 and 08:00 ET, but failed to confirm a sustained bearish breakout. Turnover and volume aligned with price movement, with no notable divergence observed.

Fibonacci Retracements

Fibonacci levels drawn from the $13.25 to $12.97 move highlighted $13.10 (61.8%) and $13.15 (38.2%) as key levels during the rebound. Price found support at $13.05–13.10 and appears to be testing the 38.2% retracement as a potential continuation level.

The price could test the $13.15–13.20 range in the next 24 hours if buying pressure continues, but risks reversing back lower if the 61.8% Fibonacci at $13.10 fails. Investors should monitor volume and RSI behavior for confirmation of a breakout or reversal.