LINK Price Pressured by Trendline Resistance
Chainlink is navigating a compressed market structure as price remains trapped beneath a persistent descending trendline. The market continues to balance pressure from lower-timeframe weakness against steady positioning from derivatives traders across major exchanges.
Chainlink is trading at $14.14, and it is generating a small 24-hour increase, but it represents a loss on a weekly basis. The chart indicates price is maintaining a decreasing price trendline which has influenced the market since the September peak. This line continues to act as the key ceiling limiting upward momentum.
As described in the recent update shared by CRYPTOWZRD, the daily candle closed slightly bearish, keeping the short-term view cautious. The market remains capped until buyers reclaim structural territory above $15.40, which is the threshold needed for a shift toward bullish conditions. Until then, sideways movement and mild weakness may continue as compression tightens near current levels.
Support around $13.50–$14.00 has provided stability during recent declines. The market has repeatedly reacted at this zone, preventing deeper moves toward the lower ranges mapped earlier in the cycle. This area remains important for maintaining near-term structure.
Intraday Structure Reflects Ongoing Compression
Lower-timeframe movement continues to show choppy behavior, with rallies repeatedly fading near the trendline. Dips, however, have also lacked follow-through, forming a narrow band of indecision. Such conditions often appear before a stronger breakout attempt, either through the trendline or below support.
According to CryptoWZRD, the focus is still on low-time structure as the market waits to see a definite structure. Any move above the falling trendline would be a preliminary signal of strength, but it will require a resounding close above $15.40 to confirm that move. Without such progress, the broader range may continue.
Upside zones remain well-defined, with liquidity pockets near $18 and $20 offering potential targets if structure turns upward. The chart also outlines a wider target near $22–$23, though this scenario relies on sustained momentum.
Derivatives Data Shows Strong Long Bias
Derivatives positioning presents a different dimension, with long traders maintaining firm control across exchanges. Binance shows a 2.2701 long/short ratio among accounts and 2.6576 among top traders, suggesting consistent long exposure. Position data also leans long at 2.0928, reflecting broad alignment.
OKX offers similar behavior with a 2.16 ratio, showing consistent long favor even with slightly reduced conviction. Such readings indicate traders are preparing for potential upside despite recent chart pressure.
Liquidation activity shows balanced volatility. Short liquidations dominated smaller windows, including a $90.87K flush in 12 hours, while the full 24-hour period recorded almost equal liquidations on both sides. This reflects active two-way trading shaped by intraday swings rather than sustained directional moves.