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Cryptocurrency Report.

One Cryptocurrency Trading Below the Resistance Levels- Chainlink (LINK)

Oct 08, 2026

  • LINK
  • Investment Type
    Crypto
  • Risk Level
  • Action
  • Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Chainlink (LINK) is a decentralized oracle network that enables smart contracts to securely access reliable real-world data and external information. Its native cryptocurrency, LINK, is used to support and incentivize activity across the network. By bridging on-chain blockchain systems with off-chain data and services, Chainlink expands the functionality of smart contracts-executing programs that automatically trigger actions when predefined conditions are met. LINK has a market capitalization of ~USD 9.91 billion (as per TradingView as of October 08, 2026).

For the week ended October 02, 2026, the S&P Cryptocurrency Broad Digital Market (BDM) Index posted a weak performance, declining 22.29 points, or 0.48%, to close at 4,658.78. The index started the week on a firm note but subsequently moved lower, reflecting sustained selling pressure across the broader digital asset market. At the start of the new trading week on October 05, the index extended its decline amid a broadly negative tone across the cryptocurrency market. Major digital assets, including Bitcoin and Ethereum, also recorded notable losses, further weighing on overall market sentiment. The continued weakness highlights persistent near-term selling pressure and a cautious risk environment across the broader digital asset space.

Having understood the S&P Cryptocurrency BDM Index movement over the last week and the scenario for the upcoming week, one cryptocurrency that seems ‘Non-Attractive’ at the current level appears to be Chainlink (LINK) based on the below technical parameters: -


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