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

Chainlink's LINK token dropped nearly 5% in the past 24 hours, falling below $14.50 after breaking key support amid increased selling pressure. It declined from $15.26 to reach its lowest point since late October, while the overall market also saw declines. A significant volume surge of 118% confirmed the selling sentiment, leading to a rapid liquidation of over 360,000 tokens. Despite these losses, the Chainlink Reserve purchased an additional 74,049 LINK, raising its total to over 800,000 despite an unrealized loss. Analysts suggest that holding above the $14.40 level is crucial for LINK to avoid further declines toward $14.20. In contrast, reclaiming the $15 resistance could help stabilize the token's short-term momentum, making it a critical price point to monitor moving forward.

Source 🔗