Chainlink (LINK) is currently trading near $12.33, down 4.2% in the past 24 hours, struggling below the $12.80 resistance level. Trading volume has increased to approximately $353 million, but open interest has decreased by 5% to $556 million, indicating traders are reducing leverage rather than boosting confidence. Analysts point out that the price movement lacks a clear direction, with technical indicators like RSI at 42.8, suggesting weak momentum and no confirmation of a trend reversal.
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Chainlink (LINK) is currently trading near $12.33, down 4.2% in the past 24 hours, struggling below the $12.80 resistance level. Trading volume has increased to approximately $353 million, but open interest has decreased by 5% to $556 million, indicating traders are reducing leverage rather than boosting confidence. Analysts point out that the price movement lacks a clear direction, with technical indicators like RSI at 42.8, suggesting weak momentum and no confirmation of a trend reversal.