Chainlink (LINK) Price News: Slips 5% Despite Coinbase Deal, But Bottoming Signs Emerge
Chainlink's LINK token fell 5% despite a major deal with Coinbase, but technical indicators suggest potential bottoming.Summary
Chainlink’s LINK token experienced a nearly 5% decline over the past 24 hours, reaching $13.74, despite Coinbase selecting Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to power a new $7 billion bridge for wrapped assets like cbETH, cbBTC, and cbDOGE. This partnership represents a significant endorsement of Chainlink’s infrastructure. Nasdaq-listed Caliber also began staking its LINK holdings. However, broader market weakness, including concerns about the Federal Reserve’s rate outlook, contributed to the price drop. Late-session trading saw a surge in volume and accumulation patterns above the $13.46 support level, indicating potential stabilization and renewed buying interest. Key technical levels to watch include support at $13.46 and resistance at $14.88.
(Source：CoinDesk)