Chainlink LINK News: Price Struggles to Maintain Above $26, Buyers Remain Bullish

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Over the past 24 hours, Chainlink (LINK) has faced challenges in maintaining its price above the $26 mark. Despite these difficulties, buyers continue to exhibit a bullish sentiment as LINK’s price appears poised for further gains. Currently, the cryptocurrency is hovering around price levels similar to those observed in early January. The fear/greed index, a key indicator of market sentiment, has risen to a level of 61, signaling a predominant greed sentiment among investors. However, it’s worth noting that Chainlink’s trading volume has experienced a notable decline, dropping by 45.6% in the last 24 hours to reach $642.8 billion. Looking at the broader picture, LINK’s price has been trending downwards since mid-December. It has decreased from a high of $31 to approximately $18 just two weeks ago. Nevertheless, the substantial buying interest and market activity suggest that LINK’s current price falls within a potential buying range for investors. Despite this optimism, its market capitalization has decreased over the past 24 hours, indicating a shift in the overall market value of the cryptocurrency.