Chainlink Price Tests Critical Support at $15 – Potential Breakout Looms

Chainlink (LINK) is currently experiencing a significant dip, shedding over 8% in the past 24 hours, as it tests crucial support levels around $15. Despite this drop, traders remain optimistic, with strong bullish signals evident from long-to-short ratios exceeding 2.4 on major exchanges like Binance and OKX. Analysts believe that a sustained hold at the $15 level could mark a strategic accumulation point before LINK explodes higher. The current downturn may be a favorable opportunity for investors looking to enter the market, especially considering historical patterns of price consolidation and breakouts within LINK’s wider trend.