Chainlink Trades Below Short-Term Averages as Selling Outpaces Buying

Chainlink (LINK) traded below several short-term moving averages as taker selling exceeded buying, pointing to weaker near-term order flow while Binance account cohorts remained tilted long.

LINK was priced at $12.87, down 0.75% over 24 hours, with an intraday range of $12.69 to $12.97. The token was below its seven-period simple moving average at $13.40, its 20-period SMA at $13.72, its 12-period exponential moving average at $13.42 and its 26-period EMA at $13.19.

LINK remained above its 50-period SMA at $12.51 and 200-period SMA at $9.69. The relative strength index stood at 47.07, while the moving average convergence-divergence line and signal line were both 0.2352, leaving the histogram at 0.0000.

Taker buying totaled 113,492 contracts during the measured one-hour period, compared with 141,463 contracts of selling. That produced a buy/sell ratio of 0.8023, meaning aggressive sell volume exceeded aggressive buy volume during the window. The ratio was below the 0.82 reading in earlier LINK coverage on sell-heavy taker flow.

At 3 a.m. ET (7 a.m. UTC) on Oct. 10, Binance’s global-account long/short ratio was 1.5940, with 61.5% of accounts long and 38.6% short. Binance’s top-trader cohort had a long/short ratio of 2.1162, with 67.9% long and 32.1% short.

Open interest stood at approximately $107.7 million across 8.46 million contracts, down 0.14% over 24 hours. The eight-hour funding rate was 0.0052%, while the Stochastic oscillator was 21.03 for %K and 16.82 for %D.

Bollinger Bands placed LINK’s lower band at $12.23, middle band at $13.72 and upper band at $15.21. The daily average true range was $0.78.

The market setup follows Chainlink’s Sept. 28 announcement of CCIP 2.0, which is available to institutions and digital asset issuers. The upgrade adds multiple verification methods, quicker transfers, configurable fee payments, compliance tools and open execution.