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Chainlink drops 7.3% amid heavy selling, with price possibly falling to $7.88 soon

Technical Signals
07 Nov 2026, 01:00 WIB
AMBCrypto
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Bearish
Chainlink drops 7.3% amid heavy selling, with price possibly falling to $7.88 soon

Chainlink experienced a sharp 7.3% price drop and an 11.6% decline in Open Interest within 24 hours, reflecting strong selling pressure. The altcoin faces critical support levels around $10.6-$10.8, and failure to hold these could push prices down to $7.88 or lower in the coming weeks. Despite expanding access to Asian stock markets, demand has not increased, and the ongoing bearish trendline resistance suggests sellers remain in control. Short-term liquidity clusters near $12 and just under $13 may offer brief price support before further declines.

Chainlink holds a market cap of Rp147.6 trillion and a 24-hour trading volume of Rp4.88 trillion on Pluang as of Nov 07, 2026 06:22 WIB. Despite the article's note of a 7.3% price drop, LINK is up 2.85% on Pluang at Rp196,931, with buyers dominating 62% of order activity. The typical hold time for LINK investors on Pluang is 64 days, indicating a moderate-term interest in the asset amid current market fluctuations.

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