Chainlink Price Rebounds to $13.83 After Recent Market Downturn
The Chainlink price recently fell to a new low just above $12, affected by bearish market conditions. Despite this, it showed signs of recovery, reaching approximately $13.83 with a 6% increase over the past 24 hours.
Key Points
- On March 11, Chainlink dropped amid market-wide declines, with Bitcoin hitting $77,000 and Ethereum falling below $2,000.
- Chainlink aimed for $15 on March 14 after almost 10% daily gains.
- Despite recent performance, LINK is down over 13% in the past week.
- Analyst Ali Martinez highlighted a resistance level around $14.88 - $15, where significant investor activity occurred.
- 15,450 investors bought 107.28 million LINK tokens at an average price of $15.13, creating a supply barrier.
- If Chainlink breaches the $15 resistance, it could potentially rise to $16.
