Chainlink (LINK) Rebounds from 14% Dip, Finds Stability Amid Volume Surge
LINK, the native token of Chainlink’s decentralized oracle network, staged a sharp rebound Monday following a steep 14.4% drop from $13.97 to $13.56. The rapid recovery, supported by a notable spike in trading volume, suggests the emergence of short-term demand near the lower end of the current range.
By midday, LINK had regained lost ground, trading near $13.95, with clear rejection observed at the $13.96–$13.97 resistance band. Trading volume peaked at 1.06 million LINK around 10:00 UTC, reinforcing the significance of the bounce.
Support has now solidified around $13.83–$13.84, offering a potential accumulation zone. However, price remains confined within a consolidation band, with broader directional cues likely to come from bitcoin’s next move.
Key Technical Levels:
- Resistance: $13.96–$13.97 (double rejection zone)
- Support: $13.83–$13.84 (new demand zone)
- Breakout Trigger: Clean close above $14.00
- Bias: Neutral-to-bullish if support holds and volume persists
LINK’s price action reflects improving sentiment, but a breakout above $14 is needed to confirm trend continuation.
