Link Price Plummets 6% in 24 Hours, Stands on Razor's Edge

Link has seen a significant drop in price over the past 24 hours, losing over 6% and currently sitting at $11.77, just above its immediate support of $11.38.

This decline can be attributed to a risk-off flush across the crypto complex, with mid-cap DeFi infrastructure tokens being hit particularly hard. The 6.22% single-session drawdown has pushed price from a session high of $12.56 down to an intraday low of $11.58.

The bulls are currently struggling to defend the $11.75 Simple Moving Average (SMA-20) level, which is seen as a crucial support zone. The taker buy/sell ratio is at 0.87, indicating that sell-side aggression is dominating the market.