Chainlink (LINK) Price News: Declines 2% as ETF News Fails to Break Resistance
CoinDesk
LINK dropped 4% after failing to break technical resistance near $16.25 despite news of a Chainlink ETF listing.Summary
Chainlink's LINK token fell 4% to a session low of $15.10 amid broader crypto market weakness, after encountering strong technical resistance near $16.25. This pullback occurred despite the Bitwise proposed Chainlink ETF being listed on the DTCC registry under the ticker CLNK, which initially caused a brief price spike. Market participants viewed the DTCC listing as a procedural step rather than a guaranteed bullish catalyst, focusing instead on chart levels. The $16.15–$16.25 zone held firm as overhead supply, reinforcing key resistance. Technical analysis suggests continued range-bound action between $15.10 support and resistance around $15.50, with downside risk toward $15.00 psychological support if momentum stalls.
(Source：CoinDesk)