Chainlink LINK Holds Critical Support Amid Market Uncertainty
Chainlink's LINK token is showing tentative signs of recovery, gaining 2.36% over the past 24 hours to trade at $12.39. However, the rebound appears fragile—weekly performance remains down 4.36% as bearish pressure persists across cryptocurrency markets.
The asset is now retesting a critical support zone between $11.95 and $12.23. Analysts warn that losing this floor could trigger deeper declines, while any upside movement may prove temporary. Trading volume ROSE 7.66% to $494 million, suggesting speculative interest despite the cautious technical outlook.
Market participants are watching the $14.60 resistance level, though most price action appears corrective rather than the start of a sustained rally. As one trader noted: 'The bulls need to reclaim $13.50 convincingly before we can talk about a trend reversal.'
