Chainlink Price Breaks Key Technical Levels
Chainlink's price has made significant gains in recent days, rising by another 6% on August 15 and trading near $9.52. This move follows several sessions of hesitation around $9.
Despite Standard Chartered's forecast from August 10 that predicted LINK to reach $13 by the end of 2026 and $200 by 2030, the market did not react immediately. However, the forecast may have played a role in the buying surge seen after it was released.
The price cleared the upper edge of its late-July range and reached the 200-day SMA, marking a significant milestone for the asset. With LINK now above the 50-day SMA at $8.20, the 100-day SMA at $8.5, and the 200-day SMA at $8.8, the new support test sits between roughly $8.80 and $9.
The next level of resistance is the 0.786 Fibonacci retracement, which sits at $10, almost exactly on the psychological $10 level. A break above this level would leave the May reference high near $11 as the next visible target.