Chainlink Price Faces Resistance After Sharp Sell-Off

LINK trades near $11 after a sharp retreat, with daily support around $10 and resistance limiting the latest recovery attempt. The price action below $11.30 is a sign that LINK is still weak, and any move above that figure could be a sign of an intraday rebound. Chainlink’s oracle role may extend beyond price feeds as applications require historical records, complex queries and verifiable calculations. After a significant price drop, the Chainlink price action is continuing to struggle. There are weak daily structures and strong tests in the intraday levels.