10% Decline Amid Crypto Selloff; Rewards Season 1 Coming
Chainlink’s LINK token fell 10% on Monday, plunging to its weakest price since the October 10 flash crash breaking down key support levels.
Trading activity spiked 674% above the 24-hour average at the height of the breakdown, with over 12 million LINK changing hands as the token dropped from $16.21 to $15.02 in under 30 minutes, CoinDesk Research’s technical model said.
The token underperformed the CoinDesk 5 index by more than 5.8%, signaling technical weakness amid heavy volume.
The CoinDesk Research model pointed to a failed breakout earlier in the week and lack of fresh catalysts as reasons for the move. LINK now faces critical support around $15.25, with technical downside risk toward $14.50 if buyers fail to stabilize the current…
