Chainlink's price action suggests continued consolidation in the short term, with the cryptocurrency trading around $9.24. The token is consolidating below its 50-day and 200-day moving averages, showing limited short-term momentum.
The daily chart shows that Chainlink remains below its 50-day MA near $10.63 and the 200-day MA around $16.21. Both moving averages are sloping downwards, indicating sustained downward pressure. The RSI on the daily chart is near neutral at roughly 49, having rebounded from oversold territory earlier.
However, if momentum picks up further, near-term resistance lies at $10.00, with the 50-day MA serving as a key technical barrier. Immediate support levels are found near the $8.80–$8.20 range, with additional support below these levels if selling pressure intensifies.