Chainlink Rally Hits Red Flags as Whales Cool Off
Chainlink (LINK)
Editor:
Eugene Serbin
Chainlink has surged 95% from $7 to $13.77 since mid-August, but cvj.ai reports that technical and on-chain signals are flashing caution. Analyst Ali Martinez identified a TD Sequential sell signal on the weekly chart, suggesting potential trend exhaustion after the sharp climb. Whale activity has cooled significantly, with transactions over $1 million dropping from 59 to just 10 on September 7.
Exchange deposits have also risen, with 1.75 million LINK moved onto exchanges and the total balance increasing to approximately 271 million units. This uptick in inflows often indicates that holders are preparing to sell, which could exert downward pressure on the price. Despite these short-term headwinds, the asset remains above the critical $10.87 higher-timeframe support level.
Crypto Patel notes that holding this level keeps the bullish outlook intact, with long-term targets set at $50 and $100. Michaël van de Poppe expects strong continuation toward a $14.50-15 target zone, believing LINK will not stall much. Fundamentally, LINK is being added to Charles Schwab’s crypto trading service alongside Solana and Avalanche. Additionally, Wyoming is using Chainlink Proof of Reserve for near-real-time visibility into its Frontier Stable Token reserves.
How the market reacted
Whalio's own Binance spot order flow for LINK, measured when this story was written up on 8 September 2026. Not the outlet's figures.
Whalio data shows LINK trading at $12.75 with a 1-hour buy ratio of 58.0% and a 4-hour ratio of 51.0%, indicating stronger immediate buying pressure compared to the 24-hour average of 50.4%. The 1-hour volume delta is positive at +$110,129, while the 4-hour delta is +$78,917, showing net buying in the short term. Over the last 24 hours, the cumulative volume delta closed at -$413,267, suggesting that despite recent spikes, net selling pressure has dominated the full day. The buy ratio measures the proportion of trades executed by buyers versus sellers, while the volume delta represents the net value of those trades. A positive delta means buyers are absorbing more volume than sellers, whereas a negative delta indicates sellers are in control.
The latest daily buy ratio of 49.4% sits at the 56th percentile of the last 322 days, against a median of 48.8% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for LINK, averaged over the days leading up to the story.
Compared to the preceding week, today’s 24-hour spot volume of $55,534,010 is 1.69 times the weekly average, marking an unusually active trading day. The 24-hour buy ratio of 50.4% is nearly identical to the 7-day average of 50.5%, showing that buyer sentiment has remained stable despite the volume spike. Volume delta for the 8-day period totaled +$5,801,271, indicating that net buying has been the dominant force over the past week. Price increased by 12.6% over this 8-day period, with net buying occurring on 3 of the 7 days. This volume surge contrasts with the stable buy ratio, suggesting that while participation has increased significantly, the balance between buyers and sellers has not shifted drastically from the weekly norm.