Chainlink (LINK) price has entered a decisive technical zone, retesting a major historical support level at $9.65. This level, which last held firm in August 2024, represents a higher-timeframe demand zone where price has repeatedly triggered bullish reactions in the past. The current corrective phase began after LINK lost acceptance below the value area high near $21, accelerating downside momentum and moving swiftly through lower liquidity zones.
The $9.65 level is critical due to its historical significance, confluence with the value area low, and psychological importance as a long-standing reference point. Should LINK hold above this support and attract sustained buying interest, the first upside target is the point of control (POC), with a major higher-timeframe objective at the $21.07 resistance level. Failure to attract demand at this support would expose LINK to further downside risk.
Simultaneously, Lido Dao (LDO) is under scrutiny following a significant transfer by Arthur Hayes. On February 3, 2026, Hayes moved 2.31 million LDO (valued at nearly $980,000) into FalconX. This transfer increased the available centralized supply at a sensitive moment, as LDO price was already trading near a key demand zone between $0.41 and $0.42.
Despite the bearish structure and added supply, Spot Taker CVD data reveals persistent buyer dominance beneath the surface, with aggressive market participants absorbing sell pressure near demand. However, the broader trend remains corrective, with the Directional Movement Index showing sellers still dominate (with –DI near 35 and +DI suppressed around 7). The ADX sits near 43, well above the 25 threshold, signaling a strong directional trend.
Liquidity analysis from the Binance LDO/USDT Liquidation Heatmap shows dense leverage clusters that could trigger a violent price resolution. Heavy liquidity sits above $0.43, while long exposure stacks below $0.40. A move above $0.43 could fuel a short squeeze, while a drop below $0.40 would accelerate downside pressure through long liquidations.
