Chainlink Price Prediction: LINK Open Interest Cools Off as Traders Rebuild Positions Slowly

• LINK faces short-term bearish pressure, struggling to reclaim key EMA resistance zones.
• Support holds near $12.37, but a breakdown risks deeper levels toward $11.75.
• Open interest stabilizes near $559M, signaling cautious rebuilding amid negative spot flows.

Chainlink (LINK) traded in a short-term bearish correction on the 4-hour chart after a sharp drop from the recent swing high near $14.39. The sell-off pushed LINK below its main EMA cluster, which often signals that sellers still control near-term momentum. Price has started a bounce attempt near $12.38, but bulls still need stronger follow-through to shift sentiment.

LINK Tries to Stabilize After the Drop

The rebound attempt has held above the first support zone around $12.37. This level matches the Fib 0.236 area and acts as the first test for buyers. However, downside pressure still matters if price fails…

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