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Chainlink rallies above $11 as it powers 70% of DeFi market, boosted by strong buying and short liquidations.

Technical Signals
26 Aug 2026
Blockonomi
View Source
Bullish
pluang ai news

Chainlink (LINK) surged past key resistance levels at $8.10 and $9.35, reaching a local high near $12.50 before a slight pullback. The rally is driven by Chainlink's infrastructure powering about 70% of the global DeFi market, including major protocols like Aave and Compound. Open interest in LINK derivatives rose from $400 million in July to nearly $700 million in August, with a wave of short liquidations adding momentum. LINK now trades above previous resistance levels, which may act as support, with traders watching if it can hold above $11 and retest $12.50.

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