The price of Chainlink has pulled back below the $9 mark, prompting some traders to wonder whether this signals a larger downturn. However, a closer look at the technical setup suggests that this move may be just a short-term pullback rather than a shift in the overall trend. The cryptocurrency has been consolidating near the $9 level for some time, and current price action indicates that bulls are still in control. Support zone holding strong LINK’s price has shown a constructive reaction around the micro support zone between $8.34 and $8.64. This area has acted as a buffer against further declines, allowing the price to stabilise after recent fluctuations. Even the short-term support at $8.
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