Chainlink (LINK) is gaining momentum as market activity increases. Technical indicators are suggesting a potential short-term price increase. Investors are focusing on resistance levels. Market experts believe that if LINK’s momentum is sustained, it will create room for further growth.
At the time of writing, LINK is trading at $8.62 with a 24-hour trading volume of $1.02 billion and a market capitalization of $6.18 billion, according to CoinMarketCap. Over the last 24 hours, LINK has climbed 5.02%, signaling renewed interest from investors.
Chainlink Shows Strong Momentum This Week
On February 7, 2026, crypto analyst CRYPTOWZRD noted that the daily chart shows positive momentum as the coin found support at $7.30, which allowed the coin to bounce significantly. Additionally, the LINK/BTC pair has formed a dragonfly doji candle.
According to the CRYPTOWZRD, a breakout above the intraday resistance of $9.20 could confirm a bullish trend with a potential run-up towards $12.00. In addition, a pullback towards $8.25 followed by a reversal could be a buying opportunity.
Intraday and Short-Term Outlook
The intraday outlook indicates high volatility but is currently leaning positive. It is currently trading within a range above $9.20. If it can break through resistance, it may continue moving higher, or if it dips back into the range around $8.25, it may bounce back.
CRYPTOWZRD advised waiting for a clear structure on the charts before entering any new positions and to look at lower time frame charts over the weekend to see if any opportunities may present themselves.
As the dominance of Bitcoin decreases, Chainlink could have more room for upward movement, and the next few days will be important for LINK’s short-term direction. Investors will be watching for LINK’s ability to rise above resistance and continue its bullish run.
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Chainlink Stabilizes After Sell-Off
RSI at 43.21 is below 50 and suggests weakening momentum that is rising from an oversold condition. Price is trading at $8.62, which is below the full MA ribbon and maintains the downtrend. Support levels: 20 SMA at $8.79. Resistance levels: 50/100/200 SMAs at $9.49, $10.71.
The MACD is stabilizing with a histogram reading of +0.084. The MACD line is moving up from -0.265 towards the signal line of -0.350. This suggests the bearish momentum is weakening.
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