Chainlink Price Hovers Near $11.50 as Buyers Defend Lower Boundary

Chainlink's price has been fluctuating around $11.50, with key support at $11.46.

A breakout above $11.80 could push LINK toward its next target of $12.00.

The token is currently trading near $11.57, down 1.36%, and remains below the upper end of its daily range.

However, buyers have defended the lower boundary at $11.46 several times, suggesting that this level may hold for now.

A sustained recovery would require stronger demand around current levels, with a reclaim of $11.55 and $11.60 needed to target higher resistance.

The Chaikin Money Flow (CMF) indicator has weakened during the decline, suggesting selling pressure, while LINK/BTC is approaching a critical breakout zone that could confirm improving relative strength against Bitcoin.