Chainlink Price Prediction: LINK Holds $9 While Open Interest Drops - Brave New Coin

Price remains elevated at over $9.00, but it has fallen sharply since its March high. LINK is in a watch zone with traders now monitoring whether the token levels off to make another upward move or falls back to a lower support level.

Link Price Pulls Back as Open Interest Drops Below $200M

Open interest data indicate LINK/USD at $9.09859 on the latest six-hour candle, with an opening price of $9.11038, a high of $9.20490, and a low of $9.03239. That was a 0.25% down close, indicating a slight reversal following the aggressive advance in mid-March. Before the rally slowed, Price had reached the $10.00 area.

The lower panel shows aggregated open interest at $196.67 million, down from a recent peak above $220 million around March 17. This fall is important for short-term traders, as it indicates a reduction in leveraged positions following the previous run. The chart indicates that the new shift was partly due to speculative accumulation and that overpositioning has begun to correct downward.

24-hour Session Shows LINK holding Above $9

Additional BraveNewCoin data indicate that Link is trading at $9.12, down 0.79% over the last 24 hours. At press time, the token traded between $8.91 and $9.20. This means LINK has remained within a relatively narrow 29-cent range, indicating the market has entered a consolidation phase following the previous spike.

The BraveNewCoin chart lists market capitalization at $6.45 billion and 24-hour volume at $391.47 million. The available supply stands at 708.10 million LINK, while the all-time high remains $52.70.

Link price is still down 82.70% from that peak, which shows that the broader recovery story remains incomplete even as short-term conditions improve.

Technicals Show LINK Between $8.40 Support and $9.78 Resistance

Technical indicators show the upper band of Bollinger Bands is set to $9.779, the middle band to $9.087, and the lower band to $8.396. LINK is currently in the mid-band, and this is a typical indicator of being in equilibrium as opposed to the trend growing.

TradingView data indicates that the buyers have been defending the lower half of the range; however, they have not succeeded yet in pushing the price to be near the upper region of resistance.

Daily chart shows Chainlink opening at $9.046, reaching a high of $9.208, touching a low of $9.032, and closing at $9.069. That left the token up 0.25% on the day, though the gain was small. Volume on the chart stood at 355.61K, indicating continued activity but not a breakout surge. The MACD indicator is still positive with values close to 0.044 and 0.004, and the histogram is 0.041.