Chainlink (LINK) Bounces Off Key $20 Support After Testing 6-Week Low
Chainlink's LINK token has rebounded from a six-week low, with strong support holding at the $20 psychological level. The cryptocurrency currently trades at $20.71 after testing $19.95 on September 25, demonstrating institutional buying interest at this crucial threshold.
Technical indicators point to oversold conditions, with the Relative Strength Index (RSI) at 38.94 suggesting potential reversal momentum. LINK declined 8% to $21.16 during the broader market correction that began September 23 before finding solid footing.
Despite market volatility, chainlink maintains strong fundamentals as the leading oracle solution. The network continues expanding its DeFi integrations and use cases, reinforcing its position as essential infrastructure for smart contract platforms.
