Chainlink Faces Uphill Climb to Regain Momentum As Price Stagnates and Holder Confidence Declines

Chainlink (LINK) price has stagnated, growing only 1% over the past month compared to significant growth in the broader crypto market.

Metrics show declining long-term holder confidence 180-day dormant supply dropped 87% and weighted sentiment hit an all-time low of -1.265.

Strong support between $15-$18.50 and resistance from $19.75-$26.75 suggests rangebound trading ahead.

For LINK to break out and hit $22 again, it needs to build momentum to break key resistance levels.

Market shifts like improved sentiment or a Chainlink ETF approval could provide catalysts for an upside breakout.