Overview
- LINK touched $16, its lowest level since Oct. 17, with a death cross now in place and price trading below the Supertrend and the 61.8% Fibonacci retracement.
- Price action wicked beneath the lower edge of a weeks‑long symmetrical triangle as the BBWP volatility gauge turned up from extreme lows, pointing to a larger move.
- Technicians highlight $16.50 on the daily close as the breakdown trigger with a measured target near $11.30, while a push above $18 would negate the near‑term bearish setup; sellers are watching $14.90 as interim support.
- Nansen data shows exchange balances have fallen to about 233.6 million LINK, down roughly 12% in 30 days, underscoring continued withdrawals from trading venues.
- SmartCon runs Tuesday and Wednesday, an event that often features partnership news, as FTSE Russell unveiled plans to publish indices onchain Monday, with supportive context also including Chainlink’s role in Circle’s Arc testnet and Grayscale’s pending GLNK spot‑ETF filing.