Chainlink price nears breakout as Bollinger Bands narrow

Chainlink price traded near $11.41 after failing to hold its latest rebound, while weak momentum and liquidity below $11.20 raised the risk of another decline. Summary Chainlink price remained below the $11.72 resistance after retreating from its September peak near $13.60. Daily Aroon readings showed fading upward momentum, with Aroon Up falling to 7.14%. 4-hour Bollinger Bands placed immediate support near $11.20 and resistance around $11.68. Liquidation clusters near $11.00 could draw the price lower if the current support range fails. Chainlink price remains under pressure Chainlink (LINK) price was trading around $11.41 at the time of writing, down 0.91% on the daily candle after moving between $11.30 and $11.63. The token remained close to the lower end of its intraday range as buyers struggled to extend a brief recovery. LINK has lost much of the advance that carried it from approximately $8.20 in early August to a September high near $13.60. The rally accelerated after the price broke through $9.40 and later cleared $11.00, but selling increased once the token moved above $13.00. Price has since formed a sequence of lower highs and lower lows. The latest bounce stalled belo...