Chainlink (LINK) has advanced from roughly $7 to $12.20, with short-term momentum remaining positive as traders monitor the $12.40-$12.45 resistance band. Chainlink is a decentralized oracle network that supplies off-chain data such as market prices to smart contracts, and LINK is the token used to pay for its data services. Analyst Michael van de Poppe has also outlined a longer-term setup, identifying 1,600 sats as the next major level and 2,200-2,400 sats as his potential target range. Sats refer to LINK's price denominated in satoshis, the smallest unit of Bitcoin, a common way traders compare altcoin performance against BTC.

LINK Reclaims $12 as Buyers Push Higher

LINK rose from its Sept. 2-3 lows near $11.00-$11.10 to $12.204. The move produced higher highs and higher lows, and price broke above the $12 psychological level. LINK reached approximately $12.45 before pulling back.

The latest candle opened at $12.247, touched a high of $12.286, dipped to $12.132, and closed at $12.204. The pullback came as resistance emerged around $12.40-$12.45. Meanwhile, $12.00 now serves as near-term support, with the $11.80-$11.60 zone beneath it.

Michael van de Poppe Flags 1,600-Sat Break

Michael van de Poppe said LINK had been in a downtrend for an extended period before its trend turned bullish, noting that previous resistance levels were becoming support. According to van de Poppe, a break above 1,600 sats could allow the move to continue toward 2,200-2,400 sats, a range he described as a potential return opportunity.

The dollar-denominated setup also faces a higher resistance zone. A decisive move above $12.40-$12.45 could put $12.60 in play next, while a rejection could send LINK back toward $12.00.

Santiment Tracks 43% Growth in New LINK Wallets

Santiment, an on-chain analytics firm that aggregates blockchain address and activity data, reported a 43% increase in new LINK addresses over the past week, comparing the figure against activity recorded during the first half of August. Among other assets, UNI posted an 87% increase, while AAVE gained 46%. SOL followed with 32%, whereas ETH recorded an 8% decline. Address growth is often watched as a gauge of user adoption, since expanding networks typically require more wallets to transact.

Santiment also noted that new addresses remain easy to create, meaning some of the growth can come from incentive-driven wallets rather than genuinely new users.

Meanwhile, LINK's relative strength index (RSI) stands at 59.51 — above the neutral 50 level but below overbought territory — with its RSI moving average at 64.93. The RSI is a momentum oscillator used to measure the speed of price changes on a 0-100 scale, with readings above 70 traditionally considered overbought. The MACD line remained above its 0.114 signal line at 0.120, and the histogram stood at 0.006, keeping the indicator positive while showing limited acceleration. The MACD, or moving average convergence divergence, tracks the relationship between two moving averages of price to signal momentum shifts.