Chainlink Price Stuck in Tight Trading Range as Bulls and Bears Clash

Chainlink's price held steady at around $11 in recent trading, despite mixed signals from technical charts. According to market data, LINK fell 2.71% over the last 24 hours, with a total trade volume of nearly $371.89 million.

The BraveNewCoin chart shows that sellers dominated the latest session, pushing Chainlink's price back below $11.20. However, a brief recovery attempt was lost in the afternoon, and the price subsequently made several tests at $10.94 before trending back towards $11.12.

One analyst spotted a bullish pennant formation on Chainlink's daily chart, indicating a potential breakout from a long downtrend. If the price breaks above the upper limit of the pattern, targets of $11.50 and $12 are in focus, with potential future resistances at $15.50 and $20.

However, another analyst chart warns of a pullback risk, with weekly support below at $10.75 and a lower red support level around $8.50. For now, Chainlink's price remains stuck between the $10.75 to $11.90 range, awaiting a breakout or reversal.