Chainlink (LINK) Rebounds Strongly After Sharp Correction, Eyes Further Gains

Chainlink (LINK), the decentralized oracle network powering real-world data for smart contracts, has shown notable price recovery after a steep 14.4% correction. LINK dropped from $13.97 to a low of $13.56 but quickly rebounded as buyers stepped in at critical support levels.

The recovery was marked by a series of higher lows, signaling accumulation by traders who see value at these levels. Currently trading at $14.38, LINK is up 1.4% in the past 24 hours, mirroring the broader crypto market’s modest gains. The CoinDesk 20 Index, which tracks the top digital assets excluding stablecoins and memecoins, is also up 1.1%, reflecting overall bullish sentiment.

Technical indicators suggest momentum remains on LINK’s side. High-volume buying at the $13.58 mark provided a strong base, forming a classic V-shaped recovery. Price action at 10:00 UTC showed a breakout with the session’s highest volume (over 1 million LINK traded), confirming bullish interest. Resistance was observed between $13.96 and $13.97, an area where selling intensified twice during the session. However, the newly established trading range of $13.80 to $13.95 may serve as a launchpad for continued upside if volume holds steady.

Support is now forming between $13.83 and $13.84, a range that could underpin further price appreciation. While LINK shows strong technical footing, its near-term trajectory remains closely tied to Bitcoin’s performance. As BTC holds above $110,000, the bullish environment could support further gains in altcoins like Chainlink.

Investors are closely watching volume trends and support zones, with LINK showing promising signs of strength in the current market structure.