The cryptocurrency market is experiencing turbulence, and Chainlink (LINK) is facing significant selling pressure and market weakness. The price of LINK is nearing the crucial $12.5 support level, which will determine its future outcome. The recent price breakdown and failure to gain upward momentum have raised concerns. LINK's trading volume has surged during price declines, indicating intensified selling pressure and reinforcing bearish momentum. The weakening market structure, with LINK consistently trading below key moving averages, further hampers potential recovery. The emergence of bearish indicators suggests a shift in trend dynamics. The $12.5 support level is crucial for LINK's defense against further declines, but if it fails, the altcoin may face a deeper correction. However, if buyers defend this level, a rebound and recovery become more likely.



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