Chainlink Price Holds at $12.86 as Technical Breakout Remains Unconfirmed

Chainlink (LINK) traded at $12.86 on Binance spot on Oct. 11, below four short-term moving averages while remaining above longer-term averages, as momentum indicators showed no confirmed directional break.

A later Binance spot snapshot placed LINK/USDT at $12.934, with a 24-hour range of $12.807 to $13.254 and volume of $14.25 million. An earlier snapshot listed a range of $12.84 to $13.25 and volume of approximately $13.7 million.

LINK stood below its seven-period simple moving average at $13.22, its 20-period SMA at $13.71, its 12-period exponential moving average at $13.36 and its 26-period EMA at $13.17. It remained above the 50-period SMA at $12.53 and the 200-period SMA at $9.71.

The moving average convergence-divergence line and signal line were both 0.1814, leaving the histogram at zero. The 14-period relative strength index was 47.03, while Stochastic %K was 20.73 and %D was 16.58.

Bollinger Band levels were $12.21 for the lower band, $13.71 for the middle band and $15.22 for the upper band. Immediate support was identified at $12.71, with stronger support at $12.56. Immediate resistance stood at $13.13, followed by stronger resistance at $13.40.

Binance futures data recorded at 3 a.m. ET (07:00 UTC) showed open interest of approximately $107.9 million across about 8.39 million contracts, down 0.53% over 24 hours. The eight-hour funding rate was 0.0090%, while the global account long-short ratio was 1.5873 and the top-trader ratio was 2.1085.

Market analyst Don Wedge identified $18.40 as the descending resistance line of a five-year symmetrical triangle and described $67 as a conditional measured-move target.

“$LINK → five year symmetrical triangle / support → ascending from 2019, just bounced / first level → $18.4, the descending resistance / breakout target → $67,” Wedge wrote.

LINK was below $18.40 in the cited snapshots, and no breakout above that level has occurred. The near-term setup remains without a confirmed directional break while the token trades below its short-term averages and above its longer-term references.