Chainlink LINK Holds Firm at $13.57 Support Amid Market Correction
Chainlink's native token LINK is consolidating near the $13.57 support level, with trading volume holding steady despite a 1% daily dip. The price action mirrors broader crypto market weakness rather than panic selling, as $430 million in daily volume confirms sustained investor interest.
Technical analysis pinpoints the $13.20-$13.30 zone as critical support, where buyers have consistently stepped in. Recent recovery attempts lack strong momentum, suggesting continued range-bound conditions. Open Interest data shows position unwinding rather than aggressive shorting, indicating the recent downward MOVE is likely corrective, not a trend reversal.
The token traded within a tight $13.26-$13.74 range over the past 24 hours, demonstrating its characteristic stability during market turbulence. Market participants are now watching for a decisive breakout or breakdown to determine LINK's next significant move.
