Chainlink has spent the past three months moving in a tight and often uneasy range, with price action repeatedly failing to build strong momentum in either direction. At the time of writing, LINK is trading around $9.12, slipping about 2% in the last 24 hours, after hitting an intraday high of $9.41 during the same period. The broader trend over the past year still reflects pressure, with LINK down more than 37% year-on-year, even though shorter timeframes show periods of stabilisation. As the LINK price drops, on-chain activity and exchange flow data suggest a very different behaviour underneath the surface.
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