Chainlink Surges to Seven-Month High but Futures Outflows Cast Doubt on Further Gains

Chainlink's price surged to $12.60, its highest level in seven months, but quickly retreated to $11.76 as trading volume climbed 84% to $1.2 billion.

The price drop coincided with significant capital leaving the futures market, with CoinGlass recording $410.29 million in Futures Outflows compared to $390.9 million in Futures Inflows.

However, Chainlink Spot ETFs recorded five consecutive days of Net Inflows as LINK approached its seven-month high, suggesting continued institutional demand despite the price rejection.

The Positive Directional Indicator climbed to 55, while the Negative Directional Indicator fell to 3, indicating a strong prevailing trend and supporting the possibility that Chainlink could reclaim $12 before targeting $14.