Chainlink saw open interest fall by 11.6% and its price decline by 7.3% in 24 hours amid intense selling pressure. Funding rates moved closer to zero while remaining positive, and the liquidation heatmap identified potential price magnets around $12 and $13. On a weekly basis, a close below $10.87 would open the way toward $7.88 and potentially $7. In the short term, a sweep of $10.27 followed by a bounce above $11.80 would represent a bullish scenario, but the month-long trendline resistance and lower highs weaken the buyers’ position.
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