Chainlink's recent rebound slowed down near $9.56. LINK reported on Tuesday about $9.42, which cumulatively increased by over 14 per cent last week, but short-line travel continued to face resistance.
Derivatives are getting weaker.
The CoinGlass data show that the LINK space drops to 0.90 on Tuesday, almost a month low. The multiple ratio is below one, which means that there are more empty silos than there are many, and that the market is cautious about subsequent trends.
At the same time, the LINK fund rate was converted to negative, reporting -0.0050 per cent. This usually reflects the preponderance of empty power in the sustainable contract market. After a double-digit rise last week, some traders began to shrink their risk exposure.
Cash ETF Refund
SoSoValue data show that the spot LINK ETF recorded a net inflow of $2.07 million on Monday, the largest single-day net inflow since 22 July. This indicates that the allocation of institutional funds to LINK has been re-established after a recent rebound.
If there is a continued net inflow after this week, or if it helps to absorb the profit pressures and sustains the price hike. However, the daily flow of vouchers alone is not sufficient to confirm that the trend has developed.
9.56 United States dollars are still holding back.
In terms of price position, LINK is still above the 50- and 100-day average, corresponding to approximately $8.50 and $8.60, indicating that the medium-term repair structures have not been damaged. However, the average daily line, located at $9.56, remains the most direct upper resistance at present.
The article mentions that $9.39 has become a short-line support position. If this position is lost, the LINK may fall back to $8.94 and further support will be concentrated between $8.60 and $8.50. If the price rises back to $9.56, the above focus will shift to $9.92 and $10.04.