Chainlink Price Holds Steady as Sellers Remain Absent

Chainlink's price has been holding steady despite breaking below its ascending trendline, raising questions about the next move. The LINK token is currently trading at $12.54, down 1.24% in the past day.

The trendline break would normally signal a downtrend, but the absence of aggressive selling pressure suggests that sellers are not convinced. This could be an early sign of exhausted sellers and a potential reversal back to the upside.

A close above $13.65 would confirm the breakout and potentially trigger a rally towards $15.04 or even $20.01. On the other hand, a close below $11.50 would indicate that the trendline break is the start of a genuine downtrend.