Chainlink Price Faces Resistance as It Eyes $13 Target

Chainlink (LINK) has seen a significant surge in price after Schwab announced its support for the token. The cryptocurrency has risen from $8.30 to almost $12.50, but faces resistance at this level before it can aim for $13. To break through this barrier and maintain the uptrend, LINK must first overcome $12.50.

The 20-day EMA (Exponential Moving Average) stands at $10.79, marking the first line of support in case of a pullback. Traders are taking advantage of the increased liquidity, with long positions totaling $394,690 out of $427,250 liquidated within 24 hours.

The price forecast for Chainlink on September 2026 remains constructive following the token's rebound from the news about Schwab's listing. However, it is essential to maintain a cautious approach and keep an eye on potential market fluctuations.