Chainlink (LINK) has been struggling to maintain momentum after failing to surpass the $26 resistance level in January. As a result, the price dropped below $20, prompting a decline in active addresses and signaling waning interest from investors. The reduction in active users suggests a skeptical sentiment among LINK holders, leading to limited upward momentum in the market. The Market Value to Realized Value (MVRV) ratio, currently at -15%, indicates potential for a reversal as investors may start accumulating at lower prices. If this pattern continues, it could mark a turning point for Chainlink's price and drive a recovery. However, if the price fails to breach the $19.23 resistance level, Chainlink could experience further declines.



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