Chainlink’s price has demonstrated strong upward momentum, recently surging toward the $14.40 to $14.50 range, following a significant intraday reversal that effectively countered the downturn experienced late last week. This shift in market sentiment is clearly evident on lower timeframes, where the structure now appears firmly bullish, marked by sustained leverage inflows, increased spot activity, and enhancing technical conditions, all pointing to a growing conviction among buyers.
Open interest (OI) metrics corroborate this bullish shift, revealing a climb to multi-week highs. The aggregated OI rose from approximately 220 million to 267.6 million, indicating a steady expansion of long positioning alongside price increases. This duo of rising price and OI suggests an infusion of fresh capital into the market rather than merely a reactionary move from short covering. Market participants seem to be regaining confidence, with leveraged buyers actively contributing to the upward trend.
On the 1-hour chart, Chainlink showed a decisive breakout following a pullback towards the $11.50 to $12.00 range earlier this week. After finding a bottom near December 2, buyers aggressively re-entered, resulting in a series of higher highs and higher lows. This rally brought the token back above $14, marking one of the most robust recoveries seen in recent sessions.
Recent data highlights a significant uptick, with Chainlink trading at $13.55, representing a 12.33% increase over the past 24 hours—one of the best performances among large-cap altcoins. Its market capitalization is currently around $9.44 billion, and reported trading volume has surpassed $873 million, indicating active participation from both traders and spot buyers. The rebound follows a solid defense of the $12 to $13 demand area, historically known to trigger accumulation for the token.
This recent surge signals a transition away from the slower consolidation observed over the past week, with buyers now taking control of short-term price direction. The increase in market liquidity further emphasizes the rising engagement from participants, aligning with the recovery visible on the intraday charts.
On a daily chart basis, Chainlink is currently trading around $14.53, marking a 7.9% increase and showcasing one of the largest green candles in recent weeks. The MACD indicator reflects this positive trend, with its line rising to -0.60 and curling toward the signal line at -0.87, while the histogram has turned positive at 0.27. This dynamic indicates reduced bearish pressure and the early onset of a momentum shift.
Additionally, the Chaikin Money Flow (CMF) has seen a significant climb, now hovering near -0.01 after a prolonged period in deeper negative territory. This improvement suggests a gradual easing of outflows and a re-emergence of capital inflow, consistent with the observed increase in spot market volume. Although the CMF hasn’t yet moved decisively above zero, its upward trajectory supports the price recovery and implies strengthening market participation.
Looking ahead, the key focus will be on maintaining support levels above the $14 to $15 range. Sustaining this zone could lay the groundwork for potential further gains, targeting levels between $17 and $18, while the major resistance ceiling remains at $19.53, marking a critical boundary for the broader trend.
