Chainlink LINK News: Price Drop and Volatile Market Conditions

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In the past 24 hours, Chainlink (LINK) has experienced a price drop, failing to rise above $25.6 and instead falling below $24, a decrease of 0.82%. This movement has brought the cryptocurrency's price close to levels seen in early January. The fear/greed index has indicated a significant surge in market sentiment, currently sitting at level 66, signaling a state of greed. However, despite this positive sentiment, Chainlink's trading volume has decreased by 15.4% in the last day, totaling $930.5 million. Looking at the broader market trend, LINK's price has been on a downward trajectory since mid-December, sliding from a high of $31 to approximately $14 this week. Despite this notable decrease, there appears to be sufficient buying interest and market activity to keep LINK's price within a potential buying zone. In the last 24 hours, its market capitalization has also experienced a 1.28% decrease, reaching $15.23 billion. Furthermore, nearly $1.7 million in long positions were liquidated, highlighting the unpredictable and volatile nature of the cryptocurrency market.