Chainlink LINK Stabilizes Near $12.60 as Market Awaits Next Catalyst
Chainlink's LINK token has found equilibrium around $12.60 following recent bearish pressure, with trading volumes indicating cautious market participation. The asset is currently trading in a range between $12.26 and $12.68, posting modest gains of 0.9% over the past 24 hours.
Technical analysis shows consolidation below the key resistance zone of $12.90-$13.00, where previous swing highs have created selling pressure. Support has solidified between $11.80 and $12.00, evidenced by swift buyer responses to intraday dips.
The current market structure suggests stabilization rather than a trend reversal, with open interest data pointing to accumulating positions ahead of potential breakout moves. This range-bound action reflects balanced participation between bulls and bears as the market awaits its next fundamental catalyst.
