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

Chainlink's LINK token has fallen nearly 5% over the last 24 hours, breaking below $14.50 during a broader market downturn driven by technical sellers overpowering buyers. The price dropped from $15.26 to below $14.50, marking its lowest level since late October, exacerbated by a significant surge in trading volume—118% above its daily average. Despite the decline, the Chainlink Reserve increased its holdings by purchasing an additional 74,049 tokens, bringing its total to over 800,000 LINK, although it remains approximately 27% underwater. Traders are now focused on critical support levels, with $14.40 acting as immediate support, while a recovery above $15.00 is necessary to stabilize short-term momentum. The technical indicators suggest a bearish trend, further complicating the likelihood of reclaiming the $15 mark soon.

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