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LINK Bounces Back After Sharp Decline, Eyes Key Resistance Near $14
Chainlink’s LINK token staged a notable intraday recovery Monday after plunging over 14%, briefly touching a low of $13.56 before rebounding strongly. The move marks a potential V-shaped reversal, suggesting buyers are defending key levels despite recent downside pressure.
LINK rose by 1.4% in the past 24 hours, reclaiming ground lost during last week’s selloff. The rebound was confirmed by strong volume during the U.S. morning session, where the asset briefly tested resistance near $13.96, a level that has now been rejected twice.
On-chain and volume indicators show accumulation between $13.80 and $13.84, reinforcing the area as a key near-term support zone.
The broader market also showed strength, with the CoinDesk 20 Index rising 1.1%, offering a supportive backdrop for LINK’s recovery attempt.
Technical Snapshot:
- Reversal confirmed: LINK rebounded from $13.56 to $13.95 with high conviction.
- Volume spike: Peak volume of 1.06M LINK at 10:00 UTC supports the bullish move.
- Resistance in focus: Breakout above $13.96 needed to retest the $14 psychological level.
- Support zone: $13.83–$13.84 likely to act as short-term defense against further dips.
Traders are watching closely for a clean break above $14 to confirm renewed bullish momentum in the days ahead.
