Foreign media: LINK rebounds, approaching the $9 mark

Foreign media analysis suggests that Chainlink token LINK has continued to rebound after forming a double bottom around $7, with the price returning to an upward channel. As exchange inflows decrease and short-term momentum improves, the market's focus is on whether LINK can hold above $9 and further test the $10 area.

$9 becomes a key level in the short term

The article believes that LINK's recent movement has maintained a fairly complete rebound structure, with the price consistently raising lows and highs within the channel, and always operating above the channel’s midline. This indicates that buying pressure is still dominating the short-term trend, and the price has not yet fallen back to the lower edge of the channel.

Currently, the area around $9 is both a horizontal resistance and close to the channel's upper boundary, making it the most critical level in this round of the rebound. If the price successfully breaks above this zone, market attention may shift to the $9.97 to $10 range; if LINK faces resistance again, it could retrace towards the channel midline for support.

Momentum indicators see some recovery

From a technical perspective, the article notes that the RSI has returned to around 60, and MACD is also showing signs of moving higher again. The simultaneous improvement in both indicators suggests that short-term momentum during LINK's rebound is being restored.

However, the article also points out that improved momentum itself does not confirm a breakout. For bulls, what really needs to be confirmed is whether the price can firmly hold above $9 and shift the current recovery from a range-bound move to a clearer upward continuation.

Lower exchange inflows ease selling pressure

In addition to price structure, exchange inflow data is also seen as a supporting factor. The article states that the amount of LINK flowing into exchanges has dropped to about 1,900, significantly lower than the 5,000 to 6,000 range seen in June. This usually means that the number of tokens ready for short-term selling has decreased, and immediate market selling pressure has eased.

The article argues that if exchange inflows remain low and the price holds the upward channel’s midline, LINK will have a better chance to challenge the $9 resistance again. But whether it can truly open the way towards $10 still depends on the actual price response near that level.

Overall, this commentary sees $9 as the dividing line for LINK’s next phase. After a breakout, $10 will become the direct target; but if another upward attempt fails, the price may return to fluctuating around the middle of the channel.