- LINK climbed from around $11.00 to $12.20, with $12.40-$12.45 acting as the key near-term resistance zone.
- Michael van de Poppe sees 1,600 sats as a major breakout level, potentially opening a move toward 2,200-2,400 sats.
- Santiment reported a 43% rise in new LINK addresses, while positive MACD and sub-overbought RSI support the bullish setup.
Chainlink (LINK) has climbed from about $7 to $12.20, with short-term momentum staying positive as traders watch $12.40-$12.45 resistance. Analyst Michael van de Poppe also identified a longer-term setup, with 1,600 sats as the next major level and 2,200-2,400 sats as his potential target range.
LINK Reclaims $12 As Buyers Push Higher
LINK rose from the Sept. 2-3 lows near $11.00-$11.10 to $12.204. The move formed higher highs and higher lows, while price broke above the $12 psychological level. However, LINK reached about $12.45 before pulling back.
The latest candle opened at $12.247, reached $12.286, fell to $12.132, and closed at $12.204. That pullback came as resistance appeared around $12.40-$12.45. Meanwhile, $12.00 now stands as near-term support, with $11.80-$11.60 below it.
Michael van de Poppe Flags 1,600-Sat Break
Michael van de Poppe said LINK had downtrended for an extended period before its trend turned bullish. He noted that previous resistance levels were becoming support. According to van de Poppe, a break above 1,600 sats could allow the move to continue toward 2,200-2,400 sats.
He described that range as a potential return opportunity. The dollar price setup also has a higher resistance zone ahead. A decisive move above $12.40-$12.45 could put $12.60 next, while rejection could send LINK toward $12.00.
Santiment Tracks 43% Growth In New LINK Wallets
Santiment reported a 43% increase in new LINK addresses during the past week. It compared the figure with activity recorded during the first half of August. UNI posted an 87% increase, while AAVE gained 46%.
SOL followed with 32%, whereas ETH recorded an 8% decline. Santiment also noted that new addresses remain easy to create. Therefore, some growth can come from incentive-driven wallets rather than genuinely new users.Meanwhile, LINK’s RSI is at 59.51, above the neutral 50 level but below overbought territory.
Its RSI moving average was 64.93. The MACD line remained above its 0.114 signal line at 0.120. The histogram stood at 0.006, keeping the indicator positive while showing limited acceleration.