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

Chainlink (LINK) has experienced a significant decline of nearly 5% over the past 24 hours, dropping below the $14.50 mark amidst heightened selling pressure from technical sellers. The token, which fell from $15.26 to a low of $14.73, marks its weakest performance since late October. Trading volume soared by 118%, indicating strong institutional selling, particularly as LINK faced resistance in the $15.00 to $15.26 range. Despite this downturn, the Chainlink Reserve has continued accumulating, purchasing an additional 74,049 LINK, raising its total to over 800,000 tokens. The current strategy for traders is crucial as the asset hovers around the $14.40-$14.50 support zone; falling below this level could lead to further declines towards $14.20, while reclaiming $15.00 would show signs of stabilizing momentum. Overall, the market sentiment remains bearish, shaped by recent price actions and technical indicators.

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