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

Chainlink's LINK token experienced a 4% decline, falling to approximately $15.10, after facing strong technical resistance near the $16.25 mark. The downward trend was exacerbated by a broader decline in the cryptocurrency market. During this period, a proposed Chainlink ETF by Bitwise emerged on the DTCC registry, indicating potential readiness for trading; however, market reaction was subdued as participants focused primarily on price resistance levels. Trading volumes surged by 138% during the rejection at $16.25, signifying significant selling pressure. Key technical indicators suggest a range-bound situation for LINK between $15.10 and $16.25, with immediate support identified at $15.10, while resistance levels are firmly positioned around $16.25. The development regarding the ETF listing was seen more as procedural, lacking the bullish impact expected by some investors, limiting any price recovery.

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