Summary
• Price declined to 13.15 after a morning rally to 13.48, forming bearish divergence on RSI.
• Strong volume seen during the 09:00–11:00 ET pullback suggests distribution.
• Bollinger Bands show expanding volatility post-05:00 ET as momentum reaccelerated.
• Key support at 13.20–13.25 appears resilient, with a potential test of 13.10 ahead.
• 50-period MA on 5-min chart currently bearish, indicating possible near-term follow-through.
Chainlink/Tether (LINKUSDT) opened at 13.32 on 2026-01-11 at 12:00 ET, reached a high of 13.48, a low of 12.93, and closed at 13.16 on 2026-01-12 at 12:00 ET. Total 24-hour volume was 1,328,948.03 and turnover amounted to 17,275,975.74 USDT.
Structure & Formations
Price formed a bearish broadening pattern from 13.25 to 13.48 before reversing lower. Key support levels at 13.20–13.25 and 13.10–13.15 are now in focus. A large bearish engulfing pattern developed from 13.44 to 13.36, signaling a potential shift in momentum.
Moving Averages
The 20-period and 50-period MAs on the 5-min chart are bearish, with the 50 MA crossing below the 20 MA as price declined. Daily 50/200 MAs are neutral to slightly bearish, suggesting a consolidation phase after the earlier rally.
MACD & RSI
MACD turned bearish after the 13:00 ET low, showing negative divergence from price highs in the morning. RSI hit overbought levels at 75+ during the 03:00–05:00 ET rally, but failed to hold, hinting at weakening bullish momentum.
Bollinger Bands
Volatility expanded sharply after 05:00 ET, with price moving from within the bands to nearly the upper band during the rally. The subsequent pullback brought price back near the lower band, indicating a possible mean reversion phase.
Volume & Turnover
High volume (60k–70k) occurred during the 09:00–11:00 ET consolidation phase and the 14:30 ET breakdown to 12.99. Turnover rose sharply during the 03:00–05:00 ET rally but diverged from price during the pullback, suggesting reduced buying pressure.
Fibonacci Retracements
On the 5-min chart, the 61.8% retracement of the 13.15–13.48 move is at ~13.28. Price has held above this level, suggesting it may serve as a near-term floor. Daily Fibonacci levels indicate potential support near 13.10–13.15, which is now in testing.
Price may find near-term direction depending on the 13.20–13.25 level holding firm. A break below 13.15 could target 13.00–13.05, but a rebound from 13.25 could spark a countertrend rally. Investors should monitor the 50-period MA and RSI for confirmation of a reversal.
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