Chainlink (LINK) Price News: Bounces 5.2% Breaking Through Multiple Resistances
CoinDesk
Chainlink's LINK token jumped 5.2% to $16.66, but failed to hold above $16.50 resistance due to profit-taking.Summary
Chainlink's native token, LINK, rebounded by 5.2% on Monday, reaching a session high of $16.66, supported by a significant volume surge at midnight UTC that confirmed a breakout above the $16.00 level. However, the rally stalled as traders took profits near the highs, causing the price to retreat to around $16 after selling volume exceeded 60,000 tokens. Technical analysis indicates that immediate resistance is at $16.50, which was the point of failure, with primary support now set at $16.47. This price action occurred just before the launch of Chainlink’s Rewards Season 1 on November 11, which incentivizes LINK stakers.
(Source：CoinDesk)