Analysts note early accumulation signs, weakening momentum, and key trendline resistance. The short-term direction hinges on holding $12 and reclaiming $12. 50, which could open a push toward the $15-$17 range. The Altcoin’s Return to the Weekly Demand Zone Chainlink is trading back inside its weekly demand zone after a steady decline from the $22-$26 band. According to CryptoPulse, the current level has served as a base for previous recoveries, creating renewed attention on buyer activity. The chart shows the coin tapping the green accumulation block once again, with initial signs of support forming on the latest weekly candles. Earlier cycles show this zone attracting buy-side interest, making it a level closely monitored by traders. This potential path aligns with areas where price formed recent breakdown structures, creating near-term resistance. The analyst states that the weekly close remains crucial, as it determines whether buyer strength is building or weakening. A firm hold above the zone may support early accumulation, while repeated rejections may indicate hesitation among market participants. Market StructurePrice Pressure On the daily timeframe, Chainlink continues to trade under pressure, hovering below the $12. 50 level. CRYPTOWZRD reports that the latest daily candle closed with indecision, reflecting ongoing uncertainty in momentum. The chart displays a descending trendline that has acted as dynamic resistance since early October, with each rebound capped at lower highs. This pattern suggests the broader trend remains under strain. If Bitcoin strengthens, it could attempt to break above the descending trendline, creating room for a move toward the $16 resistance area. This level aligns with prior consolidation phases. However, persistent trading below $12. 50 maintains bearish pressure, and lower timeframes are becoming more important for detecting early reversals. Analysts Track Breakout Triggers CRYPTOWZRD adds that the altcoin may require time to form a structured recovery, as the broader daily environment remains uneven. The asset is positioned near a zone where sudden short-term volatility is possible if broader market strength appears. The chart scenario shows that reclaiming the descending trendline may allow LINK to approach the $15-$17 corridor, previously marked by active trading volumes. Until then, the analyst continues monitoring intraday setups for early shifts in price behavior. A failure to maintain support within the weekly demand zone may shift attention to lower liquidity pockets. CryptoPulse notes that a weekly close beneath this zone would suggest weakening demand. For now, LINK remains at a level where price reactions are historically strong, creating careful monitoring among traders awaiting confirmation of direction. Intraday Volatility and Short-Term Trading Levels Over the past 24 hours, Chainlink traded at around $12. 18, following a choppy session marked by varied momentum. The chart shows an early move toward $11. 80, followed by a rebound above $12. 40 before encountering resistance. Trading volume decreased during the upswing, signaling that buyers lacked conviction. As the session progressed, LINK pulled back into the mid-$12 range as sellers defended the upper boundary. The broader intraday range shows the altcoin struggling to remain above $12. 50, where repeated rejections have formed a short-term ceiling. Despite this, the price continues to hold above $12, indicating steady interest at lower levels. Volume trends appear reduced throughout the session, suggesting cautious participation among traders. Should the asset remain above $12, another test of the $12. 40-$12. 50 band is possible. A move below $12 may allow the price to revisit the $11. 90 level.
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Chainlink Pressures Weekly Demand Zone With Analysts Eyeing Break or Bounce
