Chainlink Breakdown Sparks Collapse Fears

Chainlink (LINK) Faces Critical $12.5 Support Test Amid Market Pressure

• Chainlink (LINK) is nearing the crucial $12.5 support level due to increased bearish pressure.
• The token has broken below its consolidation range, indicating a shift in market sentiment.
• LINK is trading below key moving averages, including the 100-day Simple Moving Average (SMA).
• Trading volume has surged by over 200%, surpassing $1 billion during price declines.
• The Market Structure Break and Order Block indicator shows a transition from bullish to bearish trends.

Chainlink’s price is under pressure as it approaches the $12.5 support level, with trading volume spiking by over 200% during recent declines, highlighting intensified selling pressure.