- LINK holds the support at the $19.6 zone and has eyes on $30 aiming for resting liquidity.
- On-chain data shows repeated squeezes, which indicate large long liquidations and highlight the caution present in the volatility for the asset.
- Rising open interest highlights that the price is climbing, indicating stronger bullish participation.
Chainlink’s native token, LINK, is now trending above the daily key support zone of $19.6, maintaining its price at $24.4, and eyeing its next daily resistance zone of $26.82. The price saw a growth of over 10% from the past week.
The asset has continued its uptrend from its daily support zone between $19.4 and $17.4. The price reversed its downward trend on June 22, 2025, and began an uptrend. As the price reaches its next resistance of $26.82, the price may slow down.
4-Hour Outlook
The 4-hour time frame suggests that the uptrend price structure is supported by the support zone near $22.9-$21.2, with the RSI (Relative Strength Index) at 53.32, suggesting the neutral sentiment for the price. If the price continues its current uptrend and manages to break and close above the daily resistance of $26.82, it will open door for a measured move towards $30.
What does on-chain data suggest?
Liquidations
The chart below details the underlying asset’s liquidations over one week. Following the time period, around August 17–18, we see strong short liquidations, meaning shorts were squeezed; the impact pushed the price from $22.6 to $25.6.
On August 14–15 and August 19, long liquidations occurred across exchanges, indicating that bullish positions were liquidated.
The overall picture shows multiple squeezes, but with larger long wipeouts, it could be riskier to scale in the high volatility for Chainlink.
The 15-minute time frame chart highlights the Chainlink price with the resting liquidations in the crypto market. The major liquidations for above 50K LINK orders remain at the wall of $30 and above. It makes it highly possible that the price can continue its uptrend for the target of $30 to clear out the pending liquidations if the macro factors align.
Open Interest
Aligned with the price, the open interest continues to rise as depicted in the above chart. It is generally considered that if the price is rising and also supported by the rising Open Interest (OI), it usually means that the market participants are likely to scale up on the bullish side.
In a Nutshell
Chainlink has solid price momentum with on-chain data supporting the same, with $26.82 as a key level to watch. The on-chain parameters, like rising open interest aligned with price, can indicate bullish momentum. Although the metrics show the strong strength for Chainlink, one needs to be cautious in this volatile setup.
