Chainlink price nears breakout as Bollinger Bands narrow

Chainlink price traded near $11.41 after failing to hold its latest rebound, while weak momentum and liquidity below $11.20 raised the risk of another decline. Summary Chainlink price remained below the $11.72 resistance after retreating from its September peak near $13.60. Daily Aroon readings showed fading upward momentum, with Aroon Up falling to 7.14%. 4-hour Bollinger Bands placed immediate support near $11.20 and resistance around $11.68. Liquidation clusters near $11.00 could draw the price lower if the current support range fails. Chainlink price remains under pressure Chainlink (LINK) price was trading around $11.41 at the time of writing, down 0.91% on the daily candle after moving between $11.30 and $11.63. The token remained close to the lower end of its intraday range as buyers struggled to extend a brief recovery. LINK has lost much of the advance that carried it from approximately $8.20 in early August to a September high near $13.60. The rally accelerated after the price broke through $9.40 and later cleared $11.00, but selling increased once the token moved above $13.00. Price has since formed a sequence of lower highs and lower lows. The latest bounce stalled below $11.70, leaving LINK beneath the $11.72 Murrey Math resistance level on the daily chart. You might also like: Chainlink whale sends $7.6m in LINK to Coinbase The broader crypto market also faced pressure as investors assessed inflation, energy prices and the outlook for U.S. interest rates. Expectations that the Federal Reserve could keep borrowing costs restrictive reduced demand for higher-risk assets, including cryptocurrencies that do not offer a fixed yield. Uncertainty surrounding the Digital Asset Market Clarity Act added another U.S.-specific risk for crypto traders. A delayed or unsuccessful Senate vote could weaken expectations for near-term regulatory clarity, although LINK’s immediate move remained closely tied to its technical setup and wider market direction. Daily indicators show fading LINK momentum The daily chart showed LINK holding above the 6/8 Murrey Math level at $10.94, which now serves as the nearest major pivot. Price previously used the area around $11.00 as a breakout level during its August rally, making the zone important for the short-term trend. Chainlink price daily chart — Sep. 15 | Source: crypto.newsAroon readings pointed to weakening bullish control. Aroon Up stood at 7.14%, while Aroon Down was at 42.86%. The wide gap suggests that LINK has not recorded a recent high, while downside pressure remains more active. The readings do not confirm a fresh breakdown on their own, but they support the pattern of declining momentum since the early September peak. Buyers would need to reclaim $11.72 before LINK could attempt another move toward the 8/8 resistance at $12.50. A break above $12.50 would expose the next Murrey Math targets at $13.28 and $14.06.