Chainlink enters a correction phase after losing support—what happens next?

ChainWorld News: Chainlink (LINK) experienced a decline of approximately 22% in late January 2026, falling below the key support zone of $10.6 to $11.75, and, amid overall market weakness, pushed its Relative Strength Index (RSI) to multi-year lows. Despite the sell-off, on-chain data from CryptoQuant shows that taker buy volume remains active, indicating that institutional investors are still accumulating. Analysis of liquidation clusters and a surge in the number of tokens held at a loss (currently close to 400 million) suggest that this may only be a late-stage correction rather than an early-stage crash.