Chainlink rebounds – Could $18 be LINK’s next stop? Assessing…
2025-07-10 16:15:17
Main Idea
Chainlink (LINK) shows signs of a potential rebound with growing buy-side strength, but mixed on-chain signals and resistance levels pose challenges for reaching $18.
Key Points
1. Chainlink's price rebounded from the $12.50 support level, trading around $13.50, with historical upward momentum from this level.
2. Spot market data indicates dominant buy-side activity, suggesting bullish sentiment if LINK sustains above $12.50.
3. On-chain metrics show mixed signals: Active Addresses increased by 6.42%, but new addresses declined by 2% and Zero-Balance Addresses surged 11.68%.
4. Derivatives interest rose, with trading volume up 40.49% and Open Interest climbing 11.60%, while Binance data shows 68.32% of traders holding long positions.
5. If current trends persist, LINK could attempt a move toward the $18 resistance level.
Description
Buy-side strength grows for Chainlink, but mixed on-chain signals challenge a sustained rally toward $18.
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