LINK Tests $11.22 Support After 24-Hour Selloff
Chainlink (LINK)
Editor:
Eugene Serbin
Chainlink (LINK) experienced a sharp decline after reaching $12.06 overnight, according to cryptocurrency.com.tr. Buyers failed to maintain the early momentum, allowing sellers to push the asset toward fresh 24-hour lows near $11.31. Broader market pressure contributed to the downward move, which was intensified by a market flush at 4 p.m. Kevin Warsh revived expectations of a September rate hike, adding to the selling pressure.
The asset started the session with promising momentum but struggled to defend higher levels. Sellers controlled the market for most of the day, driving the price down from the overnight high. Traders are now closely watching the $11.22 level as a critical technical test. This specific price point could determine LINK's next major direction in the market.
How the market reacted
Whalio's own Binance spot order flow for LINK, measured when this story was written up on 30 August 2026. Not the outlet's figures.
LINK is currently trading at $11.46, with a 24-hour buy ratio of 54.6% compared to 45.9% in the last hour. The 1-hour volume delta is negative at -$25,286, while the 4-hour delta is -$146,393, indicating recent selling pressure. However, the 24-hour volume delta is positive at +$1,300,395, showing that buying has outweighed selling over the full day. The cumulative volume delta closed at +$538,728, suggesting net accumulation over the period. This indicates that while short-term momentum is bearish, longer-term buying pressure has been building.
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.
Twenty-four hours later
What LINK did over the 23 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for LINK, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.5%, making today's 24-hour ratio of 54.6% an unusual day with +6.1 points above average. However, the 24-hour volume of $14,155,769 is only 0.33x the weekly average, indicating significantly lower participation. The 8-day price change was -1.6%, with a total volume delta of -$7,877,358 for the period. Only one day out of seven saw net buying, highlighting a generally bearish week. This day stands out for higher buy ratios but lower volume compared to the weekly norm.