LINK Traders Lean Long as Sell Orders Outpace Buys Near $13.76

Chainlink (LINK) traded at $13.76 at 4:27 a.m. ET (08:27 UTC) on Oct. 7, below short-term moving averages as sell contracts outnumbered buys and futures positioning remained tilted toward long accounts.

LINK moved below its seven-day simple moving average of $14.02 and its 12-period exponential moving average of $13.89. The session range was $13.26 to $14.12, while reported spot volume reached $19.8 million.

Binance Futures top-trader accounts were 67.3% long, producing a long/short ratio of 2.06. Across broader accounts, 61.4% were long, corresponding to a ratio of 1.59.

Order flow was less supportive. The taker buy/sell ratio stood at 0.82, with 194,255 buy contracts compared with 236,975 sell contracts.

“Smart money has shown their hand. Now the tape has to confirm it,” Alvin Lang said.

The nearest technical levels were $13.30 on the downside and $14.17 on the upside. Higher upside levels included $14.58 and $15.34, while downside levels included $12.84, $12.41 and $12.03.

Separate derivatives readings pointed to different market conditions. One set listed a 0.0100% funding rate and a 0.49% decline in open interest. Another showed a $13.643 mark price, a $13.6495 index price, a 0.0050% funding rate and a 0.99% increase in open interest.

Oct. 7 daily data showed an open of $13.96, a high of $14.04, a low of $13.26 and a close of $13.69.

LINK is the token associated with Chainlink, a decentralized oracle network that supplies external data to smart contracts. Chainlink also listed Sept. 28 announcements involving Swift’s blockchain ledger and CCIP 2.0.

The latest setup follows recent resistance between $14.15 and $14.60.