Chainlink (LINK) is showing bullish reversal potential as buyers defend a key support zone and an inverse head-and-shoulders pattern strengthens recovery expectations. Continued token buybacks reflect long-term confidence, supporting investor sentiment and increasing the likelihood of sustained upward momentum if resistance is successfully cleared.
At the time of writing, LINK is trading at $8.22 with a 24-hour trading volume of $192.86 million and a market capitalization of $6.15 billion. Despite the signs of stability over the last 24 hours, the LINK price structure and continuous buybacks point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Chainlink Price Holds Above $8 as BitGo Migrates $7.7B WBTC to CCIP
Chainlink Price Eyes $9 as Bullish Pattern Emerges
According to the crypto analyst Crypto With Gopal, LINK is showing encouraging signs of a bullish reversal as an inverse head-and-shoulders pattern develops on the chart.
Buyers continue defending the key support zone between $8.00 and $8.10, suggesting selling pressure is weakening. The structure reflects growing confidence among traders that LINK may be preparing for a sustained recovery and renewed upward momentum.
Source: Crypto With Gopal’s X Post
The next level to consider is the neckline at $8.40-$8.50, where a successful breakout will confirm the bullish formation.
Once above that level, the price will be able to reach the target level of $9.00. Increased momentum and sustained buying will help strengthen the recovery and prepare LINK for an extended bullish move.
LINK Buybacks Reach $42.9M as Accumulation Continues
The data from the crypto analyst Nazoku further highlighted that Chainlink has been able to expand on its existing token repurchasing program by purchasing an additional 126,068 LINK for a total value of about $1.02 million this week alone.
This particular repurchase brings the total number of token repurchases to 5.211 million LINK, with a value of close to $42.94 million.
Source: Nazoku’s X Post
Given that Chainlink maintains its current pace of buying back, another 21 buybacks may happen until the end of 2026, making for a total of nearly $21 million worth of LINK buybacks.
Although not much considering the token’s entire market weight, such a consistent trend might build confidence and increase demand for LINK tokens.
What Happens Next?
If LINK rallies above the resistance level of $8.40-$8.50 with increased volumes, then there is a high probability that the uptrend will gain momentum towards the next resistance at $9.00, attracting more buyers into the market. On the other hand, failure to hold above the $8.00-$8.10 support level can result in a stalled uptrend.
Also Read: Chainlink Powers Hong Kong Tokenized Securities Framework in 2026
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
