Chainlink (LINK) trades below the $9 mark amid a bearish structure on the daily chart, with the $10 area serving as a key resistance zone. On-chain activity has collapsed by 92.6%, with transaction count dropping from 5.2 million to 386,000 and total user count halved from 2,700 to 1,000. Despite bullish technical signals such as the MVRV ratio forming a golden cross above its 200-day moving average for the first time in over a year and increased whale activity over the past four days, volume indicators remain flat and neutral. The $10.87 resistance level must be breached to flip the structure in favor of buyers.
Source: Read the original article
