Chainlink (LINK) has dropped below the critical 0.786 Fibonacci support level of $13.91, now trading at $13.30, marking a 5.8% decline over the past 24 hours. The cryptocurrency has seen a 10.6% decrease over the last week and a 17.9% drop in the past two weeks, reflecting a broader market downturn as Bitcoin also falls below $90,000. Technical analysis indicates potential further declines to the $12.00-$13.00 range if current support levels fail, with the next significant support at $10.11. Additionally, futures open interest has decreased to $527.21 million, suggesting reduced speculative activity and a possible stabilization in the near term.