Chainlink Slumps Beneath $9.20 Resistance Following Acute Sell-Off

According to market data, there is observed compressed price action with buyers and sellers taking a pause as technical signals are observed to be mixed in both the short and medium term.

Chainlink is trading under pressure after a steep sell-off took the prices below the $9.00 level.

LINK Holds Below Falling Trendline as Market Awaits Direction

Chainlink ended the day with no movement, according to an analyst notice published in X by the pseudonymous trader called CRYPtowzrd in February 2026. The chart indicates that the price trades lower than a downwardly sloping trend line, which proves that the bearish structure is not changed. Even though there have been recent efforts to stabilize, the coin has failed to generate a definite bullish reversal sign.

The analyst indicates that this activity is in line with the macro-level crypto circumstances where the movement of the altcoins is still managed by the sentiment of Bitcoin. Consequently, the asset is vulnerable to the broader market trend and not single-market strength.

LINK is not yet sure enough to go past a downward trendline, and the key resistance is the price of $9.20, and the critical support is the price of $8.25. Source: cryptoWZRD X Feb 2026

Key level-wise, the resistance is set towards $9.20. According to the analysis, the price acceptance of anything above this zone would be necessary in order to alter the short-term momentum. In case of being reclaimed, the coin may be tested at higher levels around the levels of the previous supply, like $9.50 and $10.20.

On the negative, there is the main support area of $8.25. A prolonged lower move would have affirmed the continuation of the current downtrend. The analyst also adds that the intraday price movement is still choppy and compressed, which is usually a pre-volatility formation that leads to an explosion of direction after it is decided.

Data Reflects Compression of Prices and Dampened Capital Flows

According to the data from BraveNewCoin, Chainlink is trading at a price of $8.84 with a relatively small gain of 0.06% in the past 24 hours. The price in the session varied between $8.48 and $8.97, which is indicative of tight consolidation following recent volatility.

Volume of trading within the last 24 hours is $362.62 million, and market capitalization is $6.26 billion. These statistics reflect a sustained involvement, but capital flows seem to be selective and not aggressive. Rebounds, which were short-lived to the upper part of the range, were met with selling pressure.

LINK is trading around the $8.84 level, and its intraday ranges are tight, which evidences that the market is consolidating below the $9 level and the market is cautious. source: BraveNewCoin Feb 2026

Additionally, the price still remains below the historical highs with an available supply of 708.10 million units. The highest the coin has ever been is $52.70, which happened in May 2021. The current levels have the token approximately 83% lower than that peak, which confirms the current downward trending scenario.

There is no evidence that the trend is improving, even though price holding exceeding $8.50 means that there is short-term stability. The broader structure would have to be altered by a sustained engagement above the range of $9.50 to $10.00.

Oversold Technical Chart Signals During Massive Selling

According to the Chainlink TradingView daily chart, the asset trades around $8.495, which is the result of a decrease in the asset of 3.83% a day ago. The session started at an elevated position but turned the other way round and ended near the lows following intensive selling force. The volume grew to 1.04 million tokens, which indicates aggressive distribution.

LINK has fallen to $8.495 and has high volatility, accompanied by an oversold RSI and a downward trend of the MACD, indicating many attempts of pressure but the first signs of exhaustion. Source: TradingView Feb 2026

The general direction is to the downward side, and there has been an evident trend of low highs and low lows. The coin has been on a downward trend since it was unable to keep above the $15 level since late last year.

Chainlink is trading under pressure after a steep sell-off took the prices below the $9.00 level. The MACD is still below the signal line, and momentum is negative, although it is a little bit contracted in the histogram.

The RSI 14 is currently near 29, which is in the oversold region. This condition indicates that there is excessive downside momentum, but the price action has not established a change of heart. The short-run resistance is close to the level of $9.00, and the following psychological support level is $8.00.