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Chainlink LINK Tests Critical $13.50 Resistance Amid Low Volume, Analysts Eye Symmetrical Triangle Breakout
Chainlink LINK Tests Critical $13.50 Resistance Amid Low Volume, Analysts Eye Symmetrical Triangle Breakout
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Chainlink LINK News - Chainlink's LINK token declined 1.7% to $12.70 on Wednesday, with trading volume plummeting 43.68% to $424.11 million. The drop reflects waning short-term interest, contributing to a 9.96% weekly decline. Market momentum remains subdued, with volatility capped and aggressive positioning curbed. Analysts identify $13.50 as a critical resistance threshold. CryptoWZRD notes LINK's lack of decisive momentum, suggesting the LINK/BTC pair could dictate the near-term direction. A breakout above $13.50 may invite short setups, though no long-term reversal signals have yet emerged. Jonathan Carter highlights a tightening symmetrical triangle pattern, hinting at potential consolidation before a directional move. Liquidations remain muted, signaling balanced risk appetite. Traders await clearer technical confirmation—either a breakout or breakdown—to commit capital.
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