Chainlink Traders Eye $11.80 as Price Hovers Above $11.46 Support

Chainlink's price remains steady around $11.46 support, but still trades significantly below its all-time high.

The cryptocurrency, which powers the decentralized oracle network developed by Chainlink Labs, closed the latest session at $11.46 after briefly touching $11.78 due to rapid selling pressure.

Buyers then stepped in and kept the price mostly between $11.48 and $11.56 throughout the remainder of the session.

The established support was observed at $11.46, serving as the day's lowest confirmed level.

Metric-wise, Chainlink currently trades 78.05% lower than its all-time high of $52.70, posted in May 2021, with a market capitalization standing at $8.65 billion and a reported trading volume of $307.47 million.