Chainlink’s LINK Recovers from 14% Slide, Establishes Fresh Support Amid Market Resilience
Chainlink’s native token, LINK, showed renewed strength Monday as buyers stepped in at key support levels, helping the asset rebound from a sharp 14.4% correction. The decentralized oracle network token dropped from $13.97 to an intraday low of $13.56 before bouncing back on strong volume and forming a potential V-shaped recovery.
The recovery was driven by a series of higher lows, suggesting accumulation at lower levels. LINK gained 1.4% over the past 24 hours, in step with the broader crypto market, as the CoinDesk 20 Index rose 1.1%.
Analysts note that LINK’s short-term direction will likely remain tethered to bitcoin’s price action, as BTC continues to hover near the $103K level.
🔍 Technical Takeaways
- LINK rebounded from a 14.4% drop, with strong buy-side interest emerging around $13.58.
- Resistance was tested and rejected twice near $13.96–$13.97, a zone that now caps immediate upside potential.
- The breakout at 10:00 UTC saw the session’s highest trading volume at 1.06 million LINK, confirming strong participation.
- A new range between $13.80 and $13.95 is taking shape, potentially setting the stage for further gains if volume holds.
- Support has firmed between $13.83 and $13.84, a critical zone to watch for continued bullish momentum.
If market sentiment remains positive and bitcoin holds above key levels, LINK may be poised for another push toward reclaiming the $14 handle.
