Chainlink Stabilizes Above $13 as Open Interest Surges to $750 Million
Chainlink (LINK) has stabilized above $13 after a period of significant gains, with traders closely watching for further movement beyond this key resistance level. The token's price has been influenced by strong trading activity in derivatives markets, indicating heightened interest from market participants.
The current price of LINK is $12.96, representing a 2.04% decline from its previous day's value. Trading data shows that Chainlink broke through the $10.007 resistance level and is now trading above both its 50-day and 200-day simple moving averages.
According to CoinGlass, Chainlink's open interest has reached nearly $750 million as of September 6, with rising open interest typically signaling strong trader engagement and potential price movements.