Chainlink (LINK) is nearing a key resistance level of $14.50 (approximately 210.15 million won), and expectations are growing for a short-term price increase as supply decreases following large withdrawals from Binance.
Chainlink nears upper resistance line after Binance withdrawal
Chainlink (LINK) is currently trading at $13.70 (approximately KRW 198,670), demonstrating a gradual upward trend. After recently recovering from the $12.60 (approximately KRW 182,680) support level, the price has steadily gained strength and is approaching the upper end of its trading range at $14.50.
Technical analysis indicates that LINK is converging toward the upper end of its trading channel, while the 50-day and 200-day exponential moving averages (EMAs) remain in an uptrend. The Relative Strength Index (RSI) suggests increasing demand, and the MACD indicator is signaling weakening downward pressure.
These indicators suggest that LINK may attempt a short-term breakout. Analysts have identified $14.50 as a key price level that acts as a horizontal resistance line. A break above this level could open up the next target area of $15-$16 (approximately KRW 217.4 million to KRW 231.88 million). However, if the price fails to support $13.30 (approximately KRW 192.78 million), it could revert to a downtrend.
Reduced exchange supply and reduced circulation create upward expectations.
The massive Chainlink withdrawal from Binance is also having a significant impact on the market. Recently, users have withdrawn large amounts of LINK from Binance, significantly reducing the token supply on the exchange.
This leads to reduced liquidity on exchanges, and generally, when the supply available for sale decreases, prices are more likely to rise. Indeed, a decrease in the supply on exchanges, when coupled with advance notice or increased external demand, has often led to significant price increases.
Chainlink's Position as a Core DeFi Infrastructure
Chainlink is well-known as an "oracle network" that securely provides real-world data to blockchain smart contracts. This functionality plays a crucial role in increasing the reliability and scalability of decentralized finance (DeFi), serving as a central hub connecting various blockchains with real-world data.
Demand for Chainlink is steadily increasing, particularly as institutions seek reliable data pipelines. Chainlink technology serves as the foundational infrastructure for the decentralized Web3 ecosystem, which positively impacts both short-term price performance and long-term growth potential.
January peak season effect? What will market trends look like?
Chainlink's price movement in January 2026 will likely be determined by not only current technical momentum but also overall market sentiment and growing demand for oracle technology. Given the relatively bullish trend seen in January, a breakout of the $14.50 resistance level could mark a turning point for a new upward trend.
๐ Market Interpretation
Chainlink is currently approaching key technical resistance levels amid dwindling exchange supply, raising expectations of a short-term breakout.
๐ก Strategy Points
A break above $14.50 could strengthen buying pressure, with the next target being $16. However, a drop below $13.30 also presents a short-term downside risk.
๐ Glossary
- Oracle Network: A system that acts as middleware to help blockchains trust external data.
- EMA (Exponential Moving Average): An average line that places more weight on recent prices and is often used in trend analysis.
- RSI: A technical indicator that determines overbought and oversold conditions.
๐ก Want to know more? AI-prepared questions for you:
A. Chainlink is currently trading around $13.70, and the focus is on whether it can break through the upper resistance level of $14.50. It has rebounded from the previous support level of $12.60 and is on an upward trend.
A. If the number of tokens on exchanges decreases, the amount available for sale in the market decreases, reducing liquidity. In a situation where buying pressure persists, this can exert upward pressure on prices.
A. An oracle is a system that allows blockchains to utilize external real-time data. This information connects smart contracts to the real world and is utilized in various fields, including finance and prediction markets.
A. Technical indicators indicate upward momentum is forming, and there is room for further upside if key resistance levels are broken. However, volatility may be high depending on the overall market trend and investor sentiment.
TP AI Precautions
This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.
Get real-time news... Go to TokenPost Telegram
Copyright ยฉ TokenPost. Unauthorized reproduction and redistribution prohibited.
