Chainlink $LINK Price Analysis

On Monday, May 12, Chainlink (LINK) faced significant selling pressure and volatility as buyers and sellers vied for control, resulting in a 2% drop to close at $16.73. On Tuesday, LINK hit an intraday low of $16.05 amid intensified selling but rebounded to gain 4.02%, settling at $17.41. Momentum waned on Wednesday, with a 2% decline to $17.02, followed by a sharper 6% drop on Thursday, closing at $16.03. On Friday, buyers pushed the price to $16.52, but LINK lost steam and ended at $15.76.

Selling pressure continued over the weekend, with LINK falling nearly 3% on Saturday, dipping below the 20-day SMA to $15.32. A recovery followed on Sunday, with a 4% rise to $15.88 despite ongoing volatility. On Monday, LINK dropped to an intraday low of $14.85 but rebounded to $15.78, still down 0.60%. Tuesday saw heightened volatility, with the price swinging from an intraday high of $16.40 to a low of $15.24 before settling at $15.68. In the current session, LINK is down 0.63%, trading near $15.58.