Chainlink (LINK) Price News: Tumbles 6% as Technical Breakdown Trumps UBS, FTSE Partnership
Chainlink's LINK token dropped 6% below $14.50 on heavy volume, confirming a bearish technical breakdown despite major partnerships.Summary
Chainlink's native token, LINK, fell 6% to below $14.50, driven by a significant technical breakdown confirmed by a 57.81% surge in trading volume above the seven-day average. This aggressive distribution occurred despite major positive fundamental news, including UBS completing the first end-to-end tokenized fund transaction using Chainlink's Digital Transfer Agent standard, and FTSE Russell planning to bring its indices onto blockchain rails using Chainlink's DataLink services. The decisive break below the $15.26 support level suggests that short-term technical factors are currently overriding fundamental developments. Analysts indicate that LINK risks further weakness toward the $14.00 support zone before any potential stabilization.
(Source：CoinDesk)