Chainlink (LINK) Price News: Plunges 5% as Sellers Dominate. Can It Reclaim $15?

Chainlink (LINK) has seen a significant price drop, falling nearly 5% within a 24-hour period and breaking below the $14.50 mark, which marks its lowest level since late October. The decline was fueled by a surge in selling pressure, characterized by a 118% increase in trading volume. After peaking at $15.26, LINK struggled to maintain upward momentum and is now facing critical support levels between $14.40 and $14.50. Analysts suggest that if LINK cannot stabilize above these levels, it may face further declines towards $14.20. Despite the price drop, the Chainlink Reserve continued to accumulate tokens, purchasing an additional 74,049 LINK, and now holds over 800,000 tokens, indicating ongoing institutional interest in the asset. The call for recovery rests on whether LINK can reclaim the $15.00 level to restore short-term positive momentum.

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