<ul data-eligibleForWebStory="true"><li>Chainlink (LINK) price has dropped over 3%, currently trading at $13 with a surge in daily trading volume by more than 80%.</li><li>The overall crypto market has faced a 1.49% drop, leading major altcoins into the red territory, including Chainlink.</li><li>LINK started the day at $14.14, but it experienced a downside rally, dropping to a low of $13.20.</li><li>Chainlink's market cap stands at $8.69 billion, with a significant increase in daily trading volume touching $472 million.</li><li>On the weekly chart, Chainlink recorded a drop of over 13.28%, reaching a low of $12 after touching a high of $15.</li><li>The four-hour trading chart indicates a potential further drop towards $13.15 unless the asset breaks above $13.31 to test the $13.40 resistance.</li><li>Technical indicators suggest a bearish sentiment with the MACD line crossing below zero and the RSI positioned at 42.21, indicating neutral-to-bearish sentiment.</li><li>The Bull Bear Power (BBP) value at -0.42 emphasizes bearish strength, potentially leading to a deeper correction for Chainlink.</li></ul>

Chainlink at a Crossroads: Breakdown Ahead or Breakout Past Resistance?

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