Chainlink ($LINK LINK) has faced heavy selling pressure, breaking down sharply to 22.44 after losing its grip above 23.00. The move pushed price close to the daily low of 22.18, confirming bearish dominance. Bulls attempted to defend key levels, but bears decisively took control, signaling further weakness. Unless LINK reclaims 23.00, downside risks remain elevated. Traders should closely monitor the 22.00 zone, as a breakdown could extend losses toward 21.80 – 21.50. Momentum currently favors sellers, and the structure remains fragile. Short-term scalping opportunities exist for bears, while buyers are advised to stay cautious until signs of recovery emerge.