TLDR
- The Chainlink network onboarded 6,182 fresh wallets over a 48-hour period, marking its strongest growth rate in 2026
- LINK currently trades around $7.20, representing approximately 44% decline from its $13 peak
- The token is testing the $7.20 support level for the third time, with selling momentum appearing to weaken
- LINK Spot ETFs have resumed positive flows following a brief $490K outflow event on June 22
- June saw the Chainlink Reserve expand by 593,088 LINK tokens valued above $4.6 million, reducing circulating supply
Chainlink (LINK) continues to hover around the $7.20 price level following an extended decline from approximately $13. The digital asset has shed roughly 44% from its recent peak and now sits at a critical support zone that has previously proven resilient throughout the year.
This marks the third occasion that price action has tested the $7.20 threshold. On previous attempts, sellers encountered significant buying pressure at this level. Technical indicators now reveal diminishing momentum, with four-hour candlesticks showing consolidation patterns and weakening MACD histogram bars — both suggesting that downward pressure may be losing intensity.
Binance perpetuals data reveals that over one million LINK tokens in leveraged long positions were liquidated on June 25. Following the price stabilization near $7.20, liquidations plummeted to approximately 120,000 LINK — representing a dramatic decline in forced selling activity.
Network Growth Hits 2026 High
Blockchain analytics from Santiment indicate that Chainlink welcomed 3,142 new wallet addresses on June 25, followed by 3,040 additional wallets on June 26. This combined total of 6,182 new addresses represents the most significant consecutive-day wallet expansion the network has experienced in 2026.
✍️ TL;DR: Chainlink network growth erupts with two highest on-chain days of the year
📊 Metrics used: Network Growth
🔗 Link to chart: https://t.co/V88ThZQNSi📈 BREAKING: Chainlink just posted its two strongest network growth days of 2026, with 3,142 new LINK wallets on June… pic.twitter.com/H0FVqxDvwB
— Santiment Intelligence (@SantimentData) June 26, 2026
Increasing wallet creation during price weakness often signals fresh capital flowing into the network. This pattern suggests new market participants are accumulating at discounted prices rather than existing token holders simply redistributing their holdings across different addresses.
The token trades beneath the high-volume node situated between $9.00 and $9.20, representing the price range where the majority of recent trading activity has concentrated. The Relative Strength Index hovers near 35, signaling weakened momentum while simultaneously suggesting the asset may be nearing oversold territory.
ETF Inflows and Reserve Growth Add to Bullish Case
Chainlink Spot Exchange-Traded Funds experienced their initial daily outflow of $490,000 on June 22. This was subsequently followed by $138,000 in new capital inflows the following trading session, restoring the positive flow trajectory.
Among altcoin Spot ETFs, LINK products have demonstrated relatively strong performance. Exclusively Avalanche (AVAX) has maintained a perfect record without experiencing any outflows since its ETF introduction.
The Chainlink Reserve has demonstrated consistent expansion. Throughout June, the reserve accumulated 593,088 LINK tokens representing more than $4.6 million in value. The complete reserve now contains 4,504,167 LINK, establishing meaningful supply constraints within the broader market.
Key Levels to Watch
Market analysts are monitoring the $8.40–$8.50 range as the initial resistance barrier for any near-term price recovery. A decisive move above this zone could establish a pathway toward the $9.00 level, which would constitute approximately 15% gains from present valuation.
Should the $7.20 support level fail, the subsequent area of interest sits around $7.00. Maintaining price action above $7.20 remains the critical requirement for any constructive price scenario to materialize.
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