- LINK Outflows Signal Long-Term Holder Confidence
- $13.05 Range Eyed as Crucial Reversal Support
- Rising MACD and RSI Suggest Bullish Continuation
Chainlink (LINK) is showing early signs of a potential rebound as it hovers above key technical support levels. Recent price action suggests the altcoin may be preparing for a move toward the $19 zone. A combination of technical indicators and on-chain data continues to support this outlook as traders monitor the $12 range closely for renewed interest.
Technical Indicators Point to Key Price Levels
LINK is trading near the 0.618 Fibonacci retracement level, which has previously acted as a support zone during corrections. The level is based on the token’s earlier high of $28.86. As of the latest trading session, LINK was priced at $12.72 after rebounding from a daily low of $12.57, according to CoinMarketCap.
A crypto analyst named Ali shared on X that the $13.05 range may serve as a key point for a potential trend reversal. A long-term ascending trendline that began in mid-2023 remains intact and now sits near $11.18.
If the price stays above this line, momentum could increase toward the $19 area. However, if this support fails, the next level to watch would be $9.75, near the 0.786 Fibonacci retracement.
On-Chain Data Reflects Accumulation Trend
CoinGlass data shows consistent LINK outflows from spot exchanges since December 2023. The largest daily outflows occurred in mid-December and late January, each exceeding $40 million.
These movements suggest that more investors are withdrawing LINK from exchanges, possibly for long-term holding.Additional support is also visible in the on-chain In/Out of the Money data from IntoTheBlock.
Around $14.60, approximately 20,000 addresses accumulated over 90 million LINK. This cluster indicates strong buying interest at that level. Meanwhile, the MACD and RSI indicators show rising momentum, suggesting bulls may continue to drive LINK toward the $19 mark if pressure sustains.
