Chainlink LINK Battles Key $15 Resistance as Traders Watch for Breakout or Rejection
Chainlink's upward momentum has hit a significant roadblock at the $15 price level, creating a tough resistance zone. After briefly reaching $16 in early June, LINK retreated sharply to $11.20 before stabilizing around $13.18. Market analysts are closely monitoring this technical battleground where over 10,000 wallets currently hold positions.
On-chain metrics show concentrated selling pressure between $14.88 and $15.32, where investors originally accumulated 89.6 million LINK tokens. This supply wall aligns with analyst Ali Martinez's identified resistance at $15.30. The $13 support level now serves as the critical downside threshold, with traders positioned for either a decisive breakout or rejection at these clearly defined technical levels.
