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Chainlink LINK Consolidates Near Key Levels as Market Awaits Catalyst

Chainlink LINK Consolidates Near Key Levels as Market Awaits Catalyst

Author:

Global Cryptocurrency

Published:

2026-01-12 20:10:09

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Chainlink LINK News -

Chainlink's LINK token is hovering between the $13.00 support and $13.40 resistance levels, reflecting a market in equilibrium. Open interest has declined to $257 million from over $300 million earlier this week, signaling reduced speculative activity. The technical pattern shows a series of lower highs since peaking NEAR $14.00, suggesting short-term bearish control.

Trading volumes remain subdued as buyers defend the psychological $13 level while sellers cap rallies near $13.40. This compression typically precedes either a breakout or breakdown, with the next directional MOVE likely requiring renewed institutional participation. Market makers appear to be maintaining tight ranges amid low volatility across crypto markets.

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