Chainlink's LINK is trading near $9.396 after a strong advance through late July and August, holding above both its 50-day and 200-day moving averages as analysts watch whether the token can clear the $9.50 resistance and approach $10. Chainlink is a decentralized oracle network that delivers off-chain data such as asset prices to smart contracts, and LINK is its native token, used to pay the node operators that supply that data.

Analyst Michael van de Poppe has outlined possible dip-buying levels on X, while on-chain analytics service Onchain Lens reported that 289,760 LINK — worth about $2.74 million — was moved into self-custody.

Analysts Track LINK's Next Price Levels

Van de Poppe said buyers could consider LINK later if Bitcoin fails to break $63,400, adding that he would remain interested if LINK falls below $10. Reading altcoin setups against Bitcoin's trend is a common analyst practice, since smaller crypto assets have frequently moved in step with the market's largest token.

On the charts, the 50-day moving average (MA50) sits at $8.84, while the 200-day moving average (MA200) is at $8.48. The MA50 has moved above the MA200 after turning upward — a configuration traders commonly refer to as a "golden cross" and treat as a long-term trend signal — and trading volume also increased during the latest advance. Moving averages smooth out short-term price swings and are among the most widely followed tools in technical analysis.

Next resistance sits near $9.48–$9.50, followed by the $9.97–$10.00 area. Historical resistance remains between $10.45 and $10.90, levels that follow LINK's earlier move toward its May peak.

Nearly 290,000 LINK Moved to Self-Custody

Onchain Lens reported that a wallet transferred 289,760 LINK worth about $2.74 million. The tokens were moved to a Gnosis Safe Multisig wallet two hours before the report, and according to Onchain Lens, the wallet had accumulated the LINK from Binance over the previous month. The transfer moved the tokens from the exchange to the multisig wallet. Self-custody means holding assets in wallets the owner controls directly rather than on an exchange, and Gnosis Safe is a widely used multisignature wallet that requires multiple keys to approve transactions.

Separately, Quinten highlighted three features for institutional stablecoins: proof of reserves, cross-chain connectivity, and onchain identity and compliance. He described those as the three components institutions need for stablecoins. Cross-chain connectivity is also an area Chainlink participates in directly through its Cross-Chain Interoperability Protocol (CCIP), which is used for transferring tokens and data across blockchains. His comments came as LINK traded above its two key moving averages.

LINK Recovery Faces Key Resistance Levels

LINK previously reached about $10.90 in early May before falling toward $7.20 in June. That June area later became a major support zone. From late June, the token formed higher lows before breaking through the $8.00–$8.50 range, and price then accelerated during August.

The setup leaves $8.84 as the first support. Below that level, $8.48 and the $8.00–$8.20 area provide additional support zones. If LINK clears $9.50, the next levels are $10.00 and $10.45–$10.90. However, a sustained break below $8.84 could expose the $8.48 support level and weaken the technical structure.

Source: Crypto Front News