Chainlink eyes $13.50 breakout as ETF inflows hit yearly high

Key takeaways

• Chainlink traded near $13.50 on Monday, extending its recovery from Thursday’s $12.09 low.
• LINK-focused ETFs attracted $9.48 million on Friday, their largest daily inflow this year, according to SoSoValue.
• A confirmed breakout could bring $13.93 into focus, while initial support sits at $13.32 and $12.95.

Chainlink held above $13 on Monday as stronger ETF demand and rising balances among large holders supported its recovery from last week’s pullback.

LINK traded around $13.34, up from Thursday’s low of $12.09. Buyers are now approaching resistance near $13.50, where a sustained breakout could strengthen the case for another leg higher.

Chainlink ETFs record $9.48 million in daily inflows.

LINK-focused exchange-traded funds attracted $9.48 million on Friday, their largest daily inflow so far this year, according to SoSoValue.

The funds have recorded five consecutive weeks of inflows, pointing to sustained demand through traditional investment products.

That buying provides a supportive backdrop for LINK’s rebound, although continued inflows will be important if the recovery is to extend beyond nearby resistance.

Large holders increase their share of LINK supply

Santiment data shows that wallets holding between 1 million and 100 million LINK now account for 65.6% of circulating supply.

That compares with 65.38% on October 1, an increase of 0.22 percentage points. The rising share suggests increased exposure among large-wallet holders. 

However, wallet-size categories can include exchanges and other entities, so the figures do not necessarily represent individual investors alone.

Together with positive ETF flows, the data points to stronger demand as LINK attempts to reverse its recent correction.

LINK tests trendline resistance near $13.50

Chainlink’s broader technical structure remains supported by a rising trendline connecting the August 10 and September 16 lows near $12.30.

Nevertheless, the token is still recovering from a downswing that began at the September 29 high of approximately $15.77.

On the four-hour chart, LINK sits just above its declining 50-period exponential moving average near $13.32. The next hurdle is a descending resistance trendline around $13.50, connecting the September 30 and October 5 highs.

A confirmed move above that barrier could bring $13.93 into view, the 50% Fibonacci retracement of the decline from $15.77 to $12.09.

A sustained advance would then put the $15.77 swing high in focus, followed by the 127.2% Fibonacci extension near $16.77.

The four-hour Relative Strength Index is near 55, above its neutral midpoint, while the Moving Average Convergence Divergence indicator has moved into positive territory.

Both readings suggest strengthening bullish momentum, though price still needs to clear resistance to confirm the breakout.

On the downside, the 50-period EMA at $13.32 provides the closest support reference, followed by the 200-period EMA at $12.95.

A deeper pullback would expose the trendline area around $12.30 and Thursday’s $12.09 low. Holding those levels would help preserve the recovery structure if the initial breakout attempt fails.