Chainlink Support Zone Broken, New Levels Emerge

Chainlink’s support at $16 has been broken, sending the asset into a new cost-basis zone. The token is now trading below this key level, prompting traders to assess the impact on price action. Analysis reveals two major concentration zones – one near $16 with 53.87 million tokens and another between $12.47-$12.57 with 9.58 million tokens – which are now critical points for future movement.