Despite heightened price volatility in the cryptocurrency market, Chainlink (LINK) has been unable to overcome its critical $12 resistance level. This persistent failure suggests a strong bearish influence over the altcoin.
The Year-to-Date (YTD) return of -22.07% further underscores the uncertainty surrounding Chainlink's performance.
Moreover, the constant formation of lower highs points to the possibility of a retesting of the $10 level before any price reversal might happen.
Investors remain cautious as the market shows no clear signs of an immediate recovery.
