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Chainlink LINK Holds $9 Support as Leverage Unwinds, Setting Stage for Next Move

Chainlink LINK Holds $9 Support as Leverage Unwinds, Setting Stage for Next Move

Author:

Global Cryptocurrency

Published:

2026-03-20 21:46:27

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Chainlink LINK News -

Chainlink's LINK token is showing resilience by holding above the $9 support level, despite pulling back from its March highs near $10. Currently trading at $9.09, the token has moved within a 24-hour range of $9.20 to $9.03, indicating a period of consolidation following last week's unsuccessful attempt to maintain momentum above the $10 psychological barrier.

Futures market data reveals significant deleveraging activity, with open interest declining from $220 million on March 17 to $196.67 million. This reduction in speculative positions suggests the market is building a healthier foundation for potential upward movement, although technical indicators remain mixed regarding the near-term price direction.

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