Chainlink Approaches $13.50 Level Amid Record Inflows into ETFs

Chainlink is trading around $13.50 on Monday, continuing its recovery after dropping to $12.09 on Thursday. The LINK cryptocurrency rose to $13.34 due to strong interest from LINK-focused funds, which attracted $9.48 million on Friday – the largest daily inflow of the year, according to SoSoValue. This marks the fifth consecutive week of inflows. Support for LINK is located at $13.32 and $12.95. A confirmed breakout above $13.50 could bring $13.93 into focus.

ETF inflows continue to grow, creating favorable conditions for LINK's recovery, especially considering the increasing share of large holders. According to Santiment, wallets holding between 1 million and 100 million LINK now account for 65.6% of the circulating supply, up from 65.38% on October 1 – an increase of 0.22 percentage points. This indicates greater activity among large holders, although such wallet categories may include exchanges and other organizations, so the figures do not necessarily reflect individual investors.

Technical indicators point to strengthening bullish momentum, although the price still needs to overcome resistance for a confirmed breakout. Chainlink is recovering from a decline that started from the $15.77 high on September 29. On the four-hour chart, LINK is slightly above its declining 50-period exponential moving average around $13.32. The next barrier is the descending resistance line around $13.50, connecting the highs of September 30 and October 5. A confirmed move above this level will bring $13.93 into focus – the 50% retracement from the $15.77 → $12.09 decline. Further growth will target the $15.77 high, followed by the 127.2% Fibonacci extension around $16.77.

The relative strength index on the four-hour chart is around 55, above the neutral mark, and the MACD has moved into positive territory. Both signals indicate strengthening bullish momentum, although the price still needs to overcome resistance for a confirmed breakout. Below, the nearest support is the 50-period EMA at $13.32, followed by the 200-period EMA at $12.95. A deeper pullback will open the trendline zone around $12.30 and Thursday's low of $12.09. Holding these levels will help maintain the recovery structure, even if the first breakout attempt fails.