Chainlink drops in 24 hours as price breaks below 0.786 Fibonacci support.
Token declined 15% over seven days and 9% across past 14-day timeframe measured.
MACD indicator remains in negative territory with histogram showing continued selling pressure.
Chainlink price struggles to maintain key support levels as reduced futures open interest raises questions about the token’s next direction. LINK currently trades at $13.50, showing a 2.4% decline over the past 24 hours.
When comparing LINK’s performance to Bitcoin and Ethereum, the token mirrors the market downturn, particularly as Bitcoin had fallen below $90,000.
Technical levels define downside trajectory
Chainlink’s weekly chart reveals the crypto asset still faces bearish pressure, with price struggling to hold above key support levels. Fibonacci retracement levels show LINK tested support around the 0.786 level at $13.91 and broke below it.
If LINK fails to reclaim and maintain this level, the token may fall f
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