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.