Chainlink’s $11.90 Gamble: Bulls or Fools?

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Ah, the grand theater of finance! As the world watches with bated breath-or perhaps just mild indigestion-Chainlink [LINK] dangles precariously above the $11.90 support like a drunken tightrope walker over a pit of particularly ravenous bears.

But fear not, dear reader, for the bulls are armed with their most potent weapons: long-leveraged positions, favorable price action, and the unshakable belief that Chainlink is, in fact, a “top DeFi project.” Santiment, that ever-vigilant on-chain snoop, has declared Chainlink the winner in the thrilling “Who Can Push the Most Code?” competition. Truly, a victory for the ages.

On the 22nd of January, LINK was trading at $12.40-up a staggering 1.05%. One might weep at such riches. Trading volume, ever the fickle beast, leapt 26% to $522.29 million, presumably because someone sneezed near the order book.

The Dance of the Candlesticks

Behold the daily chart, where LINK teeters near the hallowed $11.90 support-a level so revered it might as well be canonized. Since November 2025, this mystical line has repelled bears no fewer than four times. Will history repeat? Or will the bulls finally be caught with their pants down?

Should LINK hold this sacred ground, a 15% rally to $14 awaits-or so the prophets of Technical Analysis decree. But lo! The 50-day EMA looms overhead like a disapproving schoolmarm, whispering sweet nothings of bearish doom. Yet LINK has defied this harbinger before. Will it do so again? Place your bets, comrades.

The Leveraged Lunatics

Meanwhile, in the asylum of derivatives trading, the inmates have taken over. CoinGlass data reveals a delightful spectacle: traders piling into long-leveraged positions like lemmings at a cliffside rave. The Exchange Liquidation Map shows $7.81 million in longs versus a paltry $2.08 million in shorts. Clearly, optimism reigns-or perhaps just reckless abandon.

Epilogue: A Tale of Hope and Hubris

  • Chainlink might rally 15%-if the stars align, the wind blows just right, and the market gods are feeling particularly benevolent.
  • Traders are bullish because… reasons. Also, tariffs were removed somewhere. Very important.

And so, dear reader, we leave you with this immortal truth: in crypto, as in life, the only certainty is uncertainty. Now go forth and speculate responsibly. Or don’t. Who are we to judge?

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2026-01-23 04:40