Chainlink eyes $13.50 breakout as ETF inflows hit yearly high
Key takeaways Chainlink traded near $13.50 on Monday, extending its recovery from Thursday’s $12.09 low. LINK-focused ETFs attracted $9.48 million on Friday, their largest daily inflow this year, according to SoSoValue. A confirmed breakout could bring $13.93 into focus, while initial support sits at $13.32 and $12.95. Chainlink held above $13 on Monday as stronger…
- Chainlink climbed toward $13.50 on Monday, continuing its bounce from Thursday’s low of $12.09.
- LINK-focused ETFs saw $9.48 million in net inflows on Friday, marking their highest single-day total this year, according to SoSoValue.
- A confirmed breakout could push price toward $13.93, while initial support sits at $13.32 and $12.95.
Chainlink held above $13 on Monday as increased ETF interest and accumulation by major token holders helped propel its recovery from last week’s downturn.
Trading around $13.34, LINK has advanced from Thursday’s low of $12.09. Buyers are now testing overhead resistance near $13.50, where a sustained break higher could lay the groundwork for further gains.
Chainlink ETFs record $9.48 million in daily inflows
Exchange-traded funds tracking LINK brought in $9.48 million on Friday, marking their largest daily inflow of the year, per data from SoSoValue.
The funds have now registered five straight weeks of inflows, signaling persistent institutional demand through traditional investment channels.
That capital flow offers a strong foundation for LINK’s price bounce, though sustained inflows will be necessary to propel the token past key resistance hurdles.
Large holders increase their share of LINK supply
Data from Santiment reveals that addresses holding between 1 million and 100 million LINK control 65.6% of the token’s circulating supply.
This is up 0.22 percentage points from 65.38% on October 1, indicating expanded exposure among large-scale holders.
However, because these wallet brackets can encompass centralized exchanges and custodians, the metric does not strictly represent individual retail investors.
Combined with steady ETF demand, the data highlights strengthening market support as LINK seeks to overturn its recent pullback.
LINK tests trendline resistance near $13.50
Chainlink’s macro structure remains anchored by an ascending trendline connecting its August 10 and September 16 lows around $12.30.
Even so, the asset is still rebounding from a slide that began at the September 29 local high of approximately $15.77.
On the four-hour time frame, LINK trades just above its downward-sloping 50-period exponential moving average (EMA) near $13.32. The primary barrier overhead is a descending resistance trendline near $13.50, which connects the highs from September 30 and October 5.
A decisive push past that resistance could bring $13.93 into play, representing the 50% Fibonacci retracement level of the retreat from $15.77 to $12.09.
A prolonged rally would put the $15.77 high back in focus, followed by the 127.2% Fibonacci extension level near $16.77.
Technical indicators show the four-hour Relative Strength Index (RSI) hovering around 55—above its neutral midpoint—while the Moving Average Convergence Divergence (MACD) has crossed into positive territory.
While both metrics point to building bullish momentum, price action must clearly break through resistance to confirm the shift.
On the downside, the 50-period EMA at $13.32 provides immediate support, followed by the 200-period EMA at $12.95.
A deeper drop would bring the lower trendline area near $12.30 and Thursday’s trough of $12.09 into view. Defense of those levels would keep the broader recovery structure intact should the breakout attempt fail.