After the sharp decline in the Chainlink market at the beginning of the year, price movements have become horizontal in recent weeks. Intense selling pressure in January had seriously dragged the token down. LINK, which has been holding between 8.3 and 9.5 dollars in recent days, has entered a quiet period.
Price is Horizontal, Selling Pressure Has Reduced
Current charts tracking LINK’s movements show that the market started 2026 above $12 and, after a rapid upward momentum, fell to $8 levels in early February. After this decline in the first quarter, there has been a significant horizontal trend in the market.
In the last trading session, LINK/USDT parity lost around 1 percent, falling to $8.99. LINK, which opened at $9.08 during the day, rose to the highest of $9.11 and reached the lowest of $8.94, then finished the day just below $9.
The purchase volume was observed at approximately 1.77 million units in the last 24 hours. A volume of 1.91 million LINK was reached in sales. These data reveal that sales are slightly ahead of purchases, but the recent intense sales wave has slowed down.
After the aggressive liquidation movements in the past, it can be said that the crypto market has entered a calmer period, especially for LINK. The fact that the price moves in a narrow range within the horizontal band shows that buyers and sellers are taking balanced positions.
Consolidation Predominates in the Short Term
Looking at the current market value, Chainlink’s total market value reached $6.54 billion. The transaction volume reached 210 million dollars in the 24-hour period. The total amount of LINK currently in circulation is over 727 million.
The fact that Chainlink has fallen by 83 percent from its historical peak of $ 52.70 reflects the size of the retreat since the 2021 bull market. According to the latest data, the daily price range of the token is limited between 8.98 and 9.17 dollars.
Short-term charts show that the market generally fluctuates around $9 after sudden moves. Especially the fact that the price quickly returned to this region even though it rose above $ 9 shows that there is no clear direction in the market.
When Bollinger Bands are examined technically, the upper band is at $ 9.39 and the middle band is at $ 8.86. The fact that the price is holding above the middle band indicates that the structure is starting to recover, unlike previous declines.
It is observed that LINK frequently retreated to just below $9 during daily closings, but buyers managed to support the market, especially in the $8.86 region.
As a result, Chainlink is expected to move in the range of $ 8.86 – 9.39 in the short term and continue to seek a high direction in the market. If buyers break through critical resistance zones, a new upward wave may emerge.
