Chainlink ($LINK ) has recently experienced a decline of 4.94%, with prices fluctuating between a high of $16.54 and a low of $15.27. Currently sitting near the support level at $15.27, traders exhibit uncertainty given the undefined market sentiment. The RSI at 27.28 indicates oversold conditions, suggesting potential upward correction if support holds. A breakout above resistance at $17.21 could signal renewed bullish momentum. However, caution is warranted as any failure to bounce could lead to further declines, exacerbated by recent negative sentiment in the broader cryptocurrency market.
