Chainlink Sees Largest Exchange Outflow Since Late June, Bulls Eye Key Resistance Zone

Chainlink's price has seen its largest daily exchange outflow since late June, with approximately 1.26 million LINK withdrawn from centralized exchanges. This decline in exchange balances suggests that investors are increasingly moving their holdings into self-custody, a trend often associated with long-term accumulation and reduced selling pressure.

The on-chain activity points to growing confidence among holders, but traders are now watching whether Chainlink can capitalize on the improving sentiment and reclaim key resistance levels. For the bullish momentum to strengthen, LINK must reclaim the $9.04-$9.47 resistance zone, a successful breakout above which would confirm renewed buying strength.

However, the token remains range-bound, with $8.14 acting as the key level that bulls need to defend. The Relative Strength Index (RSI) has slipped below the neutral 50 level, reflecting a slowdown in bullish momentum after the latest rejection. Meanwhile, the Chaikin Money Flow (CMF) remains in positive territory, suggesting capital continues to flow into LINK despite recent price weakness.