Chainlink (LINK) Price News: Declines 2% as ETF News Fails to Break Resistance

Chainlink's LINK token saw a decline of 4% as it struggled to overcome the $16.25 resistance mark. After initial positive movement linked to the news of Bitwise's Chainlink ETF appearing on the DTCC registry, selling pressure quickly emerged. The token fell to a session low of $15.10, as trading volume spiked by 138% during the resistance rejection. Analysts highlight that despite the ETF's procedural progress, it did not serve as a bullish driver for the market. Key technical analysis suggests a trading range from $15.10 to $16.25, with immediate support at $15.10 and resistance from $15.40 to $15.50. The situation reflects the broader crypto market's decline, leading to cautious trading in response to persistent resistance levels.

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