TLDR Chainlink (LINK) is trading near $9.49, up 1.31% in 24 hours, forming a bullish pennant pattern. A confirmed breakout above pennant resistance could open the path toward the $10 level. A
Chainlink (LINK) is trading at $9.49 at the time of writing. The token has gained 1.31% over the past 24 hours.
Its 24-hour trading volume stands at $254.08 million. Market capitalization is $7.1 billion, according to CoinMarketCap.
The price is currently consolidating inside a pattern known as a bullish pennant. This pattern often forms after a sharp price move, when buyers pause and sellers stay quiet.
Crypto analyst Quinten posted on X that LINK is showing this setup after a strong upward run. He said the price is consolidating inside the pennant while selling pressure remains controlled.
And now for my next trick, $10 $LINK by tomorrow.
Bullish pennant after a strong move up = very high chance of bullish continuation.
I don't make the rules. https://t.co/SHNi4EssNcpic.twitter.com/zYHB1HUqsq
— Quinten (@QuintenFrancois) August 17, 2026
Quinten added that a break above the pennant’s resistance could bring back momentum. That could open the door to another upward move.
Traders are also watching activity in the derivatives market. Santiment Intelligence shared data on X showing a jump in LINK-denominated open interest.
Open interest has climbed to almost 29 million LINK. That is the first time it has passed the October 9 level since the liquidation crash on October 10.
Santiment’s post also noted that dollar-denominated open interest is holding at $279 million. That figure is still below the pre-crash total of $555 million, since LINK now trades at a lower price than it did in October.
Funding rates have turned positive alongside the rise in open interest. This suggests traders are rebuilding long positions rather than closing them.
The current open interest level remains below the record of 34 million LINK tokens set in August 2025. Still, the rebuild in positioning has added weight to the bullish case.
Chainlink Price on CoinGeckoThat case was helped earlier this year when Standard Chartered set a long-term LINK price target of $200 by 2030.
For now, LINK needs to clear resistance at the top of the pennant pattern. A breakout on higher trading volume would strengthen the case for a move toward $10.
If buyers fail to clear that resistance, LINK could keep trading sideways. A short-term pullback is also possible before another attempt higher.
At the time of writing, LINK continues to trade near $9.49, with traders watching the pennant’s resistance line for the next move.
The post Chainlink (LINK) Price: LINK Eyes $10 as Bullish Pennant Points to Breakout appeared first on Blockonomi.
