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Chainlink (LINK) is under increasing bearish pressure as short bets rise and critical support at $14.25 is tested. Resistance at $15.77 remains strong, with traders eyeing a potential drop to $12.70. On-chain data shows declining user activity, signaling waning market interest.
- LINK faces liquidation risks: $2.9M in longs at $14.25 and $15.37M in shorts at $15.77.
- Repeated rejections at $15.77 strengthen bearish case, with analysts eyeing $12.70.
- Despite bearish signals, some predict a bullish breakout, citing LINK’s real-world utility growth.
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