Chainlink Signals Potential Rebound as Reserves Shrink and Traders Go Long
The post Chainlink Signals Potential Rebound as Reserves Shrink and Traders Go Long appeared com. COINOTAG recommends • Exchange signup 💹 Trade with pro tools Fast execution, robust charts, clean risk controls. 👉 Open account → COINOTAG recommends • Exchange signup 🚀 Smooth orders, clear control Advanced order types and market depth in one view. 👉 Create account → COINOTAG recommends • Exchange signup 📈 Clarity in volatile markets Plan entries & exits, manage positions with discipline. 👉 Sign up → COINOTAG recommends • Exchange signup ⚡ Speed, depth, reliability Execute confidently when timing matters. 👉 Open account → COINOTAG recommends • Exchange signup 🧭 A focused workflow for traders Alerts, watchlists, and a repeatable process. 👉 Get started → COINOTAG recommends • Exchange signup ✅ Data‑driven decisions Focus on process-not noise. 👉 Sign up → Chainlink’s LINK token recently broke below the critical $16 support level, pressuring 53. 87 million tokens and shifting market sentiment to bearish. However, declining exchange reserves, strong buyer dominance in futures, and technical rebound signals suggest potential recovery if it reclaims key resistance. Declining exchange reserves indicate accumulation: A 2. 26% drop to 1. 8 billion LINK tokens shows holders moving assets off platforms, reducing sell pressure. Technical rebound in descending channel: LINK bounced from the lower boundary after an Elliott wave correction, eyeing a move toward $16. 64. 74. 32% long positioning by top traders: This 2. 89 long-to-short ratio on Binance reflects confidence in an upcoming reversal, backed by strong taker buy volume. Explore Chainlink price breakdown below $16 and signs of recovery with shrinking reserves and bullish trader positions. Stay informed on LINK’s potential rebound-subscribe for daily crypto insights. What caused Chainlink’s price breakdown below $16? Chainlink’s price breakdown below $16 stemmed from weakened sentiment and increased downside momentum, breaching a major supply zone with 53. 87 million accumulated tokens at risk. This shift transformed the level into resistance, as earlier buyers anticipated.