2025-10-16 23:19 |
Market sentiment appears to be stabilizing after recent volatility, with several indicators suggesting the potential for an extended recovery toward the $30 region if current conditions persist.
Open Interest Data Points to Renewed Trader CommitmentAccording to open interest data, Chainlink has seen a steady rebound in futures positioning following last week’s minor deleveraging. Aggregated open interest across major exchanges has climbed back above $180 million, marking a 12% increase from the recent low. This rebound signals cautious re-entry from traders, as leveraged participants begin to rebuild exposure around mid-range levels after a cooling period.
Source: Open Interest
The stabilization of open interest suggests that speculative appetite is returning to the market, though with reduced risk levels compared to early October. A continued rise in open interest alongside healthy funding rates could fuel volatility, supporting the view that the coin’s next directional move is likely upward if spot demand continues to firm.
Market Data Shows Healthy Liquidity and Growing ParticipationAdditional data from BraveNewCoin reveals that Chainlink maintains a market capitalization of $13.2 billion and a 24-hour trading volume of nearly $1.4 billion, ranking 15th globally. Despite fluctuations across the broader DeFi sector, the asset has preserved strong liquidity depth, supported by consistent network utility and oracle integration activity.
Source: BraveNewCoin
Trading has remained concentrated within the $19.03 corridor, highlighting the balance between accumulation and short-term distribution. Volume inflows continue to trend higher week over week, reinforcing that institutional and retail participants are positioning ahead of a potential trend breakout.
Technical Indicators Suggest Building Bullish MomentumOn the other hand, TradingView data LINK/USDT shows early signs of momentum recovery on the daily chart. The Chaikin Money Flow (CMF) currently reads 0.14, indicating capital inflows returning to the market after a brief cooling period. Positive CMF values confirm that buying pressure is gradually outweighing sell-side activity, reflecting sustained investor confidence at current levels.
Source: TradingView
Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly below its signal line but with a contracting negative histogram, suggesting that bearish momentum is fading. This pattern often precedes a potential bullish crossover if volume expansion continues. A sustained daily close above $19.50 could validate this setup and mark the beginning of a short-term reversal phase.
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