Chainlink's LINK Token Pulls Back to $11.56 After September High

Chainlink's LINK token has pulled back sharply after its strong run earlier this month. The token climbed from under $9.50 to a September high near $13.70 before sellers took over, leading to a fast retreat.

LINK has now fallen in a pattern of lower lows, landing around $11.56, which is back into the trading range it held in late August.

The drop has pushed LINK back into a familiar zone for traders, who often watch old ranges like this because buyers have defended price there before.

Momentum readings reflect the selling pressure, with the Relative Strength Index sitting at 31.58, close to oversold levels, and the MACD indicator having moved further into bearish territory.