Chainlink (LINK) price hovers near the critical $12 support area, continuing the overall downtrend since October. The daily chart shows a bearish structure formed by lower highs and lower lows, and weak rebound attempts indicate that sellers remain in control. If the price continues to drop below $12, it may test the next demand area around $11.50-11.90. To break the bearish pattern, LINK must reclaim and hold the $12.80-13.30 resistance area with greater trading volume. LINK's current weakness reflects insufficient market liquidity, leading to a shift of funds from high beta altcoins to other cryptocurrencies.