Chainlink Tests $12 as Falling Open Interest Signals Caution

Chainlink (LINK) is testing a price area that could determine whether its recent correction extends into a deeper decline. The token has slipped below its former ascending channel, while derivatives data points to traders reducing exposure rather than aggressively rebuilding positions. LINK traded at $12.128 on October 15, down 2.35% during the developing daily session, according to information from TradingView . The immediate concern is not simply that Chainlink is approaching $12. Its latest intraday low sits almost directly on a major Fibonacci retracement, leaving little distance between the current price and a potentially important technical breakdown.

Source: Crypto News Flash