Chainlink is currently trading at $12, having decreased by around 11% in the last 24 hours. The price has seen multiple Change of Character (CHoCH) and Break of Structure (BOS) signals indicating a shift in market momentum.

If the support at $12 holds firm, LINK may find resistance at $16-$18, but a breach could send the price downward to $10 or as low as $8-$9 due to bearish momentum.

A significant portion of addresses holding LINK below $12 shows strong interest at this level, which could play a crucial role in maintaining price stability amid market fluctuations.