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

Chainlink (LINK) experienced a significant drop of nearly 5% amid a broader market selloff, falling from $15.26 to below $14.50, marking its lowest point since late October. This decline was driven by a surge in selling pressure, as trading volume doubled the daily average, indicating strong institutional selling. Despite the price drop, the Chainlink Reserve added over 74,000 LINK tokens to its holdings, now totaling more than 800,000 tokens at an average acquisition cost of around $20, which reflects a 27% unrealized loss. Analysts suggest that holding the support level at $14.40 is crucial, as dropping below this could lead to further declines towards $14.20. Conversely, reclaiming the $15.00 level may stabilize short-term momentum. The three-wave liquidation cascade further confirmed bearish market conditions as $15 turned into strong resistance.

Source 🔗