Chainlink: Breakdown Retest Looms as Market Structure Weakens

Chainlink is nearing a potential breakdown retest as market structure weakens and open interest resets. This comes after a sharp price decline that has seen LINK trade below $12.11, reflecting a trend of decreasing bullish momentum. Open interest volatility shows how leveraged trading activity has contributed to recent LINK price swings. Analysts suggest that this current phase may signal further downside movement.