Chainlink (LINK) dropped to $10.92 on Friday, reflecting a 3.38% decline in the last 24 hours, while its 24-hour trading volume surged to $588.12 million, a 20.23% increase, according to CoinMarketCap data. Over the past seven days, LINK has declined 10.77%. 

LINK Nears Key Support Zone

In X post, Crypto analysts at BeLaunch note that LINK is approaching a key support range between $11.08 and $11.25. While sellers have dominated recent sessions, the $10.82 support level has absorbed pullbacks, suggesting buyers are stepping in. 

A breach below this zone could invalidate bullish setups, whereas a recovery above MA7 and MA25 may trigger a short-term upward movement, with $12.495 identified as the first major resistance target.

Four-hour candlestick charts show a downtrend characterized by lower highs and lower lows. Volume analysis confirms the dominance of sellers, with larger red bars observed on consecutive down days. The latest candle, however, shows a slight bounce near $10.82, signaling potential buyer accumulation.

BeLaunch has outlined a speculative strategy for traders: entry between $11.08–$11.25, stop-loss at $10.50, and profit targets at $11.80, $12.60, and $13.60. While this setup is not financial advice, analysts suggest that holding above the $10.82 base could enable a trend reversal or short-term retracement.

Chainlink Partners with WEMADE’s GAKS

Beyond the price action, Chainlink has entered a strategic partnership with WEMADE’s Global Alliance for KRW Stablecoins (GAKS), which serves over 600 million users. The collaboration aims to improve technical standardization, interoperability, compliance, and data integrity for KRW-backed stablecoins in South Korea.

Launched in November 2025, GAKS has previously partnered with Chainalysis (blockchain analytics), CertiK (security audits), and SentBe (remittance solutions).

Johann Eid, Chief Business Officer at Chainlink Labs, said, “Through the strategic alliance with WEMADE, Chainlink is providing industry expertise and key opportunities for GAKS members to leverage the Chainlink platform.” 

WEMADE Vice President Kim SukWhan added, “Chainlink’s participation marks a milestone for GAKS in achieving global technical excellence and trust in KRW stablecoins.”

Also Read | Chainlink Reserve Grows to 1.77 Million LINK, Data Shows

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Filed under: Bitcoin - @ January 31, 2026 12:00 am