Chainlink’s LINK Shows Signs of Recovery Following Steep 14% Drop

Chainlink (LINK) has recently bounced back after experiencing a significant 14.4% drop in value, finding crucial support at $13.58. Here’s what you need to know:

• The current price is $14.38.
• The price has increased by 1.4% over the past 24 hours, partly due to trends in the broader digital asset market influenced by Bitcoin.

Technical Observations:

• Following the correction from $13.972 to $13.557, LINK’s recovery was marked by increased trading volume at new support levels.
• Resistance levels formed between $13.960 to $13.970, showing significant selling pressures during trading sessions.

The performance of Bitcoin (BTC), currently valued at $110,399.56, remains pivotal in shaping the next major steps for altcoins like LINK.

Additional Notes:

• The $13.830-$13.840 range has emerged as a potential support zone for further upward momentum.