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Chainlink holds key $8.05 support, signaling possible price rebound amid bullish trader sentiment.

Technical Signals
03 Jun 2026
AMBCrypto
View Source
Bullish
pluang ai news

Chainlink (LINK) has reached a crucial support level at $8.05 after three days of decline, a level it has held since February 2026. Despite a recent 4.5% drop to $8.55, trading volume surged 31%, indicating strong market interest. On-chain data shows accumulation by investors as exchange reserves fell, while derivatives data reveal traders increasingly betting on price gains. If LINK stays above $8.05, a strong recovery similar to past rebounds is likely; falling below could trigger a significant decline. Current indicators suggest weakening bearish momentum and a slight advantage for bulls, pointing to a potential reversal.

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