Chainlink's price momentum has stalled. The token's MACD — a key technical indicator that tracks trend strength — has gone completely flat, signaling a loss of directional conviction. At the same time, taker selling is outpacing buyer activity by nearly 1.3 to 1, a sign that bearish pressure is building in the order books. Analysts now expect a near-term flush toward the $8.16–$8.46 range.
MACD Flatlines
The Moving Average Convergence Divergence (MACD) for Chainlink has flattened out after weeks of declining momentum. When the MACD line goes horizontal, it often means the market is undecided — neither bulls nor bears are in control. But given the broader context of selling pressure, the flatline looks more like a pause before another leg down rather than a bottoming pattern.
Sellers Outpace Buyers
Exchange data shows that sellers are consistently beating buyers. The taker-buy-sell ratio sits at roughly 0.77, meaning for every 1.3 sell orders, there's only one buy order. That kind of imbalance typically drags prices lower as market makers and liquidity providers adjust their quotes downward to clear the excess supply.
The $8.16–$8.46 Target
Analysts are watching a drop to the $8.16–$8.46 zone. That range represents a key support area from earlier this year. If Chainlink falls into that band, it could attract buyers looking for a bargain — or it could break through if selling pressure doesn't let up. The current price is hovering around $9.50, so a move to $8.16 would mean a roughly 14% decline from here.
No official statements have come from Chainlink Labs or the project's team. The move is purely market-driven, based on technical signals and order flow. Traders are now watching whether the $8.16 level holds or if the selling accelerates through it.
