Share this article
Chainlink Bounces 5%, but Breakout Falters at $16.50 Resistance
Strong volume surge confirms the breakout above $16, though profit-taking near session highs introduces near-term uncertainty.
Updated Nov 11, 2025, 8:30 a.m. Published Nov 10, 2025, 6:37 p.m.
Make us preferred on Google
What to know:
- LINK advances to $16.5, establishing consecutive higher lows.
- Volume peaks at 1.82M shares at midnight, 69% above the 24-hour average of 1.08M
- Recent consolidation faces selling pressure as traders take profits
Chainlink's native token LINK rebounded on Monday, advancing 5.2% over the 24-hour period to a session high of $16.66 before profit-taking kicked in.
The price jump followed a steady upward trend with higher lows and strong participation from traders, but the failure to hold above $16.50 signaled near-term exhaustion, CoinDesk Research's technical analysis model said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The most significant move came at midnight UTC, when 1.82 million tokens changed hands — nearly 70% above the daily average — confirming a breakout through the critical $16.00 level and validating the rally’s momentum.
However, the uptrend stalled as traders began taking profits near session highs. Volume exceeded 60,000 tokens in a short sell-off after 14:00 UTC, knocking LINK back to around $16, capping bullish continuation attempts for now, the model said.
The action occurred just ahead of Chainlink’s Rewards Season 1, set to launch November 11. The program allows eligible LINK stakers to earn token rewards from nine partner projects by allocating non-transferable points called Cubes.
Key Technical Levels Signal Consolidation for LINK
- Support/Resistance: Primary support is established at $16.47 following the breakdown, with $16.50 now serving as immediate resistance after the failed breakout attempt
- Volume Analysis: Midnight surge to 1.82M shares (69% above average) confirms breakout validity, though subsequent selling pressure exceeds 60K volume during the reversal
- Chart Patterns: 24-hour ascending trend with higher lows intact despite 60-minute consolidation failure; $16.51-$16.66 range defines near-term boundaries
- Targets & Risk/Reward: Bulls target return above $16.50 for continuation toward $16.66, while breakdown below $16.47 could test $16.30 support with $16.00 as ultimate downside target
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy..
More For You
Bitcoin see-saws around $68,000, DOGE, ETH slide as tariff uncertainty weighs on risk assets
President Donald Trump raised the global tariff rate to 15% despite a Supreme Court ruling against earlier emergency trade measures, keeping pressure on China and other partners.
What to know:
- Bitcoin fell to about $67,500, extending weekly losses as renewed trade tensions and legal uncertainty over U.S. tariffs weighed on risk assets.
- President Donald Trump raised the global tariff rate to 15 percent despite a Supreme Court ruling against earlier emergency trade measures, keeping pressure on China and other partners.
- Major cryptocurrencies, including Ether, XRP, Solana, Dogecoin, Cardano and BNB, also declined as digital assets continued to trade in line with broader macro and trade headlines.
Top Stories
