Chainlink fell below $14.50, 74K LINK added.

Chainlink Price Experiences a Decline

Chainlink (LINK) has fallen from $15.26 to below $14.50, breaking a significant support level. This decline occurred with a 118% increase in trading volume, according to CoinDesk data.

Chainlink Reserves Show Increase

On Thursday, Chainlink Reserves increased by 74,049 tokens, bringing the total to 800,000+ LINK. However, 27% of this amount is currently experiencing paper losses.

A three-phase liquidation wave confirms the downward trend in the markets, while the $15 level has turned into a strong resistance. According to a technical analysis model by CoinDesk Research, this situation indicates that selling pressure is ongoing.