Gentlemen and ladies, gather ’round and let me tell ye about Chainlink’s latest antics. It’s trading near $15, which is like a fickle lover-whispers sweet nothings one day, then vanishes the next. Down slightly over the last day, but still clings to a weekly gain of 9%, as if it’s trying to convince itself it’s a hero. 🧙♂️
The price is snug in a range so tight, it’s like a turtle in a shell. Analysts say this zone could be the next breakout, but I reckon they’re just as confused as the rest of us. 🤷♂️
Price Structure Tightens Ahead of Key Break
A long-term symmetrical triangle has formed on the weekly chart, which is just fancy talk for “a pattern that’s been around longer than your uncle’s bad jokes.” Ali Martinez, the oracle of crypto, says the $13-$26 range is a “no-trade” zone. Well, I reckon that’s as likely as a pig flying with a parachute. 🐷
The range between $13 and $26 is a no-trade zone for Chainlink $LINK. The next major move will come once price breaks out of this range.
– Ali (@ali_charts) November 12, 2025
The asset has tested both sides of the triangle, but it’s like a kid trying to open a jar of pickles-lots of effort, no results. The structure is nearing its final act. A break above $26 or below $13 could either make it a hero or a jester. 🎭
Near-Term Trend Holds Above Support
On the daily chart, LINK is dancing between its 9-day and 21-day moving averages. It’s like a tightrope walker with a death wish, balancing on a thread. A close above $17 might hint at a grand adventure, while a drop below $15 would leave it looking like a washed-up comedian. 😂
The MACD data shows the indicator line has crossed above the signal line, which is just a fancy way of saying “the market’s mood is shifting… maybe.” CRYPTOWZRD warns that staying above $16 is crucial, or else it’ll be a race to the bottom. 🏃♂️
“Below $15.40 is a bearish zone that will expose the $13.50 support,” they said.
The outlook is tied to Bitcoin’s broader direction, which is about as reliable as a weather forecast in a hurricane. 🌪️
On-Chain Data and Developments
CryptoQuant reports that LINK’s exchange reserves fell from 167 million to 136.8 million tokens. It’s like a treasure chest being emptied by a band of pirates. This reduction suggests holders are hoarding their coins, likely for a rainy day. ☔
This trend usually means less selling pressure, but the price hasn’t jumped for joy. It’s like a dog waiting for a treat-excited, but not quite there yet. 🐶
Meanwhile, Bitwise’s proposed ETF is now on the DTCC’s pre-launch list. Which is just a fancy way of saying “we’re almost there, but not quite.” 🚧
Separately, Chainlink’s Rewards Season 1 is underway. Eligible stakers can earn points by allocating “Cubes” between November 11 and December 9. Token rewards will unlock from December 16 over 90 days. It’s like a carnival where you get points for playing, but the prizes are still hidden. 🎡
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2025-11-12 22:51