Chainlink Price Hits Resistance, Buyers Must Defend $12.25
Chainlink's price has stalled below $13.70 after a sharp recovery from its June low, sparking concerns about a potential cooldown. The rally remains intact, but holding above $12.25 is crucial to defend against a broader pullback.
The rejection coincided with signals flagged by Ali Charts, including a weekly exhaustion reading, higher exchange balances, and less large-holder activity. Chainlink had already regained momentum in mid-August when it reclaimed its major moving averages and put $10 back in view.
Buyers need to reclaim and hold above the recent high of $13.70 to show that the latest rejection was temporary rather than the start of a larger pullback. The immediate question is whether buyers can defend the first support created by the breakout.