Chainlink Price Halted by Resistance as Open Interest Plummets

Chainlink's price surged by 7.5% in a day, but it has now reached its upper limit, sandwiched between the $13.74 Bollinger Band resistance and immediate resistance at $13.94.

The technical charts show two conflicting signals: a healthy trend with all major moving averages above the price, but momentum oscillators flashing caution signs.

Open interest dropped 8.82% in the last 24 hours while the price rallied hard, indicating deleveraging and distribution behavior rather than accumulation behavior.

The probability setup from here is binary: either Chainlink pushes through $13.94 on a closing basis to reach the strong resistance at $14.48, or it falls back toward the $12.47 support zone if it fails to close above $13.74 today or tomorrow.