Chainlink (LINK) Price News: Bounces 5.2% Breaking Through Multiple Resistances

Chainlink's native token, LINK, made a significant rebound on November 10, rising 5.2% to a session high of $16.66 following a strong trading day characterized by a 69% surge in volume. Despite breaking through the critical resistance level of $16.00, the asset faced profit-taking that capped its momentum just below $16.50. Technical analysis suggests a near-term exhaustion in the uptick, as traders sold off after reaching the day's highs. The high volume of 1.82 million tokens traded confirmed the breakout's validity, although subsequent sell-offs were also noted. The primary support level established is at $16.47, with $16.50 now serving as immediate resistance. Looking ahead, the upcoming launch of Chainlink's Rewards Season 1 may influence trading dynamics as it allows stakers to earn rewards from partner projects.

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