Chainlink extended its latest positive move and climbed above several key resistance levels as decentralized finance (DeFi) adoption, rising open interest, and higher trading volumes added to the bullish case for LINK. The move also kept attention on how much of the network’s demand is tied to activity across DeFi applications, where Chainlink’s oracle and interoperability services are already embedded in several major protocols.

At press time, Chainlink (LINK) was trading at $11.54, down 0.77% over the past 24 hours. Even so, the broader trend remained positive after LINK recovered from the $8 area.

Why Is Chainlink Above $11?

Chainlink recently highlighted how its infrastructure supports major DeFi protocols through services including price feeds, interoperability, and cross-chain communication.

In its update, Chainlink said its technology powers about “70% of the global DeFi market” and supports major protocols including “Aave, Lido, Kamino, Compound, and Polymarket.” The statement reinforced the adoption narrative around LINK among investors, especially as DeFi activity remains a key reference point for assessing how widely Chainlink’s services are used across the sector.

— Chainlink (@chainlink) August 25, 2026

What Does the Chainlink Price Chart Show?

According to the TradingView chart, LINK broke above resistance near $8.10 and $9.35, levels that had previously limited upside.

After moving through $9.35, the price rallied to a local high of about $12.50 before easing slightly. On-Balance Volume (OBV) also rose significantly during the breakout, indicating that the price move was accompanied by stronger buying pressure rather than weak participation.

An increase in OBV alongside a rising price is generally viewed as confirmation of underlying demand.

What Do Open Interest and Liquidations Show?

CoinGlass data shows that Chainlink open interest increased from roughly $400 million in July to nearly $700 million in August. Trading volumes also expanded sharply during the recent rally, suggesting stronger involvement from derivatives traders.

Recent liquidation data also showed significant short liquidations in LINK as the token moved higher. That indicates bearish traders were forced to close positions, which added momentum to the breakout.

What Should Traders Watch Next?

From a technical perspective, LINK remains above the key breakout levels of $8.10 and $9.35, which could help support the continuation of the medium-term bullish trend.

Market participants will likely watch whether LINK can establish support above $11 and retest the recent high near $12.50. Given the volatility of cryptocurrency markets, traders may want to monitor price action, market sentiment, and catalysts before making decisions. The combination of stronger DeFi messaging, rising derivatives activity, and higher volumes gives the current move more context, but the chart will still need to show whether those conditions persist.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.