Chainlink Outpaces Bitcoin in 3Q, Remains Down for 2026

Dow Jones08-11 23:32

11:32 ET -- Chainlink has had a tough year, and remains down nearly 30% year-to-date and over 60% since this time last year, according to data from CoinGlass. But the token is showing signs of a turnaround, says Bret Kenwell of eToro in a note--having a better 3Q than cryptocurrency mainstay bitcoin. "Bulls now want to see LINK clear the $9 area, which would put it above the 200-day moving average and last month's high, potentially adding momentum to the rally," says Kenwell. Chainlink is trading up 2.8% at $8.55, according to CoinGlass data, nearing the $9 mark. But if the token can't break that level, then it may retreat fast. "If $9 remains resistance, Chainlink could pull back or continue consolidating below this key level," Kenwell says.

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