Chainlink price is losing momentum as traders turn more defensive across the altcoin market. After failing to hold above $11, LINK extended its pullback today over 6%, pushing price toward the $9 mark, a zone where buyers are now expected to show intent.
As long as LINK price trades below the $9 zone, market structure favors continuation pressure toward the $7.50-$8.30 zone, where historical demand and accumulation zone intersect. A decisive defense of $9 could allow LINK to compress and stabilize ahead. However, the current phase is defined by distribution over accumulation and risk reduction over leverage expansion. The market awaits clear evidence of bottoming out and stronger volume response at support. Until then, LINK is not being chased, it is being tested.
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