While the broader cryptocurrency market is showing mixed signals, Chainlink (LINK) has moved decisively back above the $12 level, climbing from the September 2–3 lows near $11.00–$11.10 to an intraday high around $12.45 before a slight pullback to $12.204. The rally follows a breakout from a prior daily high of $11.799 recorded on September 5, and traders are now watching the $12.40–$12.45 resistance zone as the key near-term hurdle. Volume data was thin during the initial breakout, suggesting the move could bring increased volatility in the near term.
On-chain data from Santiment shows a 43% increase in new LINK addresses over the past week, compared with activity in the first half of August. For context, UNI posted an 87% increase, AAVE gained 46%, SOL added 32%, while Ethereum recorded an 8% decline. Santiment cautioned that new addresses are easy to create, so some growth may stem from incentive-driven wallets rather than genuinely new users.
Analyst Michael van de Poppe highlighted a longer-term bullish setup for LINK against Bitcoin, identifying 1,600 sats as the next major breakout level. If that level is cleared, he sees potential for a move toward 2,200–2,400 sats, describing the range as a possible return opportunity. On the dollar chart, a decisive move above $12.40–$12.45 could open the path to $12.60, while rejection may send LINK back toward $12.00.
Technical indicators remain constructive. LINK’s relative strength index (RSI) sits at 59.51, above the neutral 50 level but below overbought territory, while its RSI moving average is 64.93. The MACD line remains above its signal line, and the histogram remains positive, though it shows limited acceleration. Support is seen near $12.00, with additional support at $11.80–$11.60.
