Chainlink (LINK) Price News: Bounces 4% as FOMC Volatility Drives Crypto Market
Chainlink's LINK token recovered 4% after briefly falling below $18 support due to broader market volatility following the FOMC meeting.Summary
Chainlink's native token, LINK, rebounded to $18.40 after experiencing a sharp intraday selloff that briefly pushed it below the critical $18 support level, confirmed by a 178% spike in volume.
The rebound coincided with the broader crypto market stabilizing after Federal Reserve Chairman Jerome Powell's speech, which caused Bitcoin to dip momentarily. Despite the recent volatility, underlying accumulation trends suggest long-term positioning, as whales have pulled approximately $188 million worth of LINK off exchanges since early October.
Near-term trading is focused on the $18 level; holding above it could lead toward $19, but failure risks exposing downside support at $17.60. Resistance remains near $18.50-$18.80, while light volume in the final trading hour suggests institutional selling may be slowing.
(Source：CoinDesk)