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Chainlink faces selling pressure but holds key $10.693 support amid $8.35M outflows and declining leverage.

Technical Signals
23 Aug 2026
AMBCrypto
View Source
Neutral
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Chainlink's price pulled back after a whale moved $2.3 million worth of LINK to Coinbase, adding sell-side pressure. Despite this, the broader market showed $8.35 million in net spot outflows, indicating stronger overall demand as withdrawals exceeded deposits. Open Interest fell 6.35%, suggesting traders are reducing leveraged positions, which may limit volatility. The critical $10.693 support level remains key to maintaining Chainlink's recent breakout, with potential to retest $12.345 if buying resumes. Losing this support could expose lower levels around $9.537 and $8.778.

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