Chainlink’s LINK Hits Six-Week Low Amid Market Weakness
- LINK’s price fell to $20.65, its lowest since early August, down nearly 28% from August highs.
- The token dipped below $20 multiple times overnight, declining around 4% in the last day.
- Caliber wealth management purchased an additional $4 million in LINK, increasing total holdings to $10 million.
- The Chainlink Reserve acquired nearly 47,903 LINK for just under $1 million on Thursday.
- Trading volume during the decline exceeded five million units, indicating strong institutional interest.
Despite the bearish trend, support has been identified between $19.95-$20.00 with resistance at around $20.57. The market’s volatility reflects broader risk aversion as major cryptocurrencies experience declines.
LINK’s recent movements show a significant retreat but also highlight potential buying interest at the critical $20 level.(Source)
