Chainlink Price Drops Near Critical Support, Risks Further Decline

Chainlink (LINK) has experienced a 4% decline, bringing its price down to approximately $15.92, as bearish traders target key support levels. The current price action suggests growing selling pressure, especially since it is approaching the significant support zone around $15.14, a level that could determine the next directional move for LINK.

The Relative Strength Index (RSI) is currently at 42.86, indicating a neutral momentum but leaning towards the downside. This neutral RSI reflects a fragile balance in market sentiment, with no clear signs of immediate reversal or strong buying interest at this moment. Traders should watch closely if LINK breaches the $15.14 support, which could potentially trigger further declines below recent lows.

Overall, the recent bearish momentum signifies caution for holders and potential further downside unless buyers step in, especially if the support at $15.14 holds and RSI shows signs of bullish divergence. Market participants should remain alert to confirmation of trend reversal signals or additional breakdowns in price.