Overview
- LINK jumped about 7% to roughly $16.20, positioning price for a retest of the $17.50–$18.00 resistance zone flagged on the daily chart.
- On-chain trackers report that large holders accumulated over 4 million LINK in the two weeks ending Nov. 7, reducing tradable supply during recent consolidation.
- Key supports include the 0.618 Fibonacci level near $14.70 and a $12–$13 area that has underpinned prior rebounds, according to multiple technical views.
- Some analysts warn the advance may be a relief rally within a weekly Head-and-Shoulders structure, with a neckline risk near $10 if downside resumes.
- Fundamental traction features SBI Digital Markets selecting Chainlink’s CCIP for cross-chain infrastructure, a UBS tokenization pilot, and an S&P Dow Jones Indices–Dinari onchain index effort, while trading volume holds near $650 million.