LINK Snaps Back After Steep Drop, But Faces Resistance Near $14
Chainlink’s LINK token showed signs of resilience on Monday, rebounding swiftly after a sharp 14.4% drawdown. The token dipped as low as $13.56 during the session before buyers stepped in, triggering a rapid recovery that pushed it near the $13.95 level.
The bounce resembles a V-shaped reversal, supported by a surge in trading volume around 10:00 UTC, where more than 1 million LINK changed hands—marking the session’s highest activity point.
Despite the strong comeback, LINK remains capped by stiff resistance just below $14, a level that has twice rejected upward attempts in recent trading. Still, the formation of a base between $13.80 and $13.84 suggests short-term strength and potential for renewed upside.
The broader crypto market mirrored this cautious optimism, with the CoinDesk 20 Index climbing 1.1%, hinting at improving sentiment across major assets.
For LINK, holding above its new support zone will be key. A decisive breakout above $13.97 could set the stage for a retest of the $14.20–$14.50 range in the coming sessions.
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