Chainlink retreats after 25.46% rally as crypto market cap falls 1.91%

  • Chainlink’s LINK token retreated after a strong early-September rally.
  • $11.56 marked LINK’s latest level after its September high near $13.70.
  • Santiment recorded 4,821 active and 1,140 new daily addresses after August peaks.

The total crypto market capitalization fell 1.91% over 24 hours to $2.61 trillion, while Bitcoin declined 2.1% and Chainlink’s LINK token retreated after a strong early-September rally. Earlier reporting put LINK’s gain at 25.46%, from $10.9 to $13.68 after September 2; the latest update places its September high near $13.70 and its price around $11.56. The pullback returned LINK to a late-August trading range, where traders are watching for potential support. RSI stood at 31.58, near oversold territory, while MACD remained bearish with a falling signal line and expanding red histogram bars. Trading volume declined to $507.51 million and open interest to $645.90 million, indicating reduced derivatives participation and the closure of leveraged positions. More Crypto Online identified $12.30-$13.21 as the first resistance zone, with a break above it potentially supporting recovery and rejection leaving LINK under pressure. CryptoQuant previously reported exchange reserves at their lowest level since mid-2022, alongside accumulation and buy-dominated Futures taker CVD through September 8. Santiment data showed active addresses easing from 5,572 to about 4,821 and new addresses from 1,601 to roughly 1,140, leaving a substantial portion of the earlier network-growth surge intact. The next directional signal will come from price stability near current levels, volume, RSI, MACD, and open interest.

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