Chainlink (LINK) is changing hands near $11.70 after losing roughly 16% of its value over the past 30 days, according to an Oct. 28 report from Blockonomi. The token has so far managed to hold its ground above a key support level, but price action remains weak, leaving traders to judge whether the pause marks a base or merely a breather before another leg lower.

The stakes for any Chainlink price outlook are rising: LINK sits just above a critical floor, and buyers need to step in before sellers test it again.

A Month of Steady Selling

LINK spent most of the month drifting lower, with sellers capping nearly every bounce. According to Blockonomi, no single headline explains the decline, and the move looks more like steady selling than a sudden shock. That matters because LINK now trades much closer to its yearly low than to its yearly high.

The past week added to the pressure, with the token down about 5% before a modest rebound. For holders, the central question is whether the current pause signals a base or just a breather before another leg down.

$11.40 Support in Focus

LINK trades near $11.70, slightly higher on the day after a week of steady losses. The nearest strong support sits at $11.40, only a short step below the current price. Resistance lies much higher at $16.55, meaning any recovery faces a long road ahead. These support and resistance levels are technical reference points, not guarantees that price will reverse or continue in either direction.

Per the report, losing $11.40 could open a path toward $8.43, and technical indicators lean bearish. A genuine recovery, by contrast, would require a push back toward $16.55.

MEMASA Bets on Chat-Based Trading

Traders watching LINK's support levels are also tracking early-stage projects, among them MEMASA ($MEMASA), an upcoming AI trading application that lets users research and trade cryptocurrencies through a simple chat interface.

The app is designed so people can research, buy, and sell digital assets by conversing with an AI assistant, replacing dense dashboards with plain conversation. Users would not need to study complex charts, track hundreds of tokens, or switch between trading platforms; instead, they can type questions in everyday language.

Ask "Can LINK hold $11.40 after its monthly slide?" and MEMASA will review market indicators, trading activity, and sentiment to explain what the available data suggests.

The project targets familiar pain points in on-chain trading: too many charts, too much noise, scam tokens, and constant app switching. It combines market analysis, risk checks, and trading in a single AI-powered chat, a setup that gives MEMASA a chance at attracting a wide audience, from crypto newcomers to seasoned traders. As launch approaches, interested users can join a waitlist for early access.

$MEMASA's Utility Role

While LINK's price depends on whether buyers defend a fragile support zone, $MEMASA is a utility token powering the MEMASA trading ecosystem, and its role is tied directly to how people use the app. According to the report, the token is designed to serve five functions:

• Premium AI intelligence: access to advanced market analysis and trading insights.
• Trading fee discounts: lower fees on eligible platform activity.
• Analyst and agent staking: analysts and AI agents stake $MEMASA to list their strategies and signals.
• Marketplace payments: transactions for intelligence services and trading strategies.
• Curation and contributor rewards: incentives for participants who share useful signals and help curate the ecosystem.

Capped Supply and Stage-Based Early Sale

$MEMASA comes with a fixed token supply, a structure that includes long-term team vesting and transparent unlock schedules. MEMASA is running an on-chain early sale that opens access to the token before broader market availability. The current stage sets the price at $0.0155 per token, described in the report as below the anticipated market price. Earlier stages carry lower token prices, while later stages offer faster unlocks. Because MEMASA is described as an upcoming application, these functions remain part of the project's stated design rather than an established operating record.

The Takeaway

LINK's next move hinges on the $11.40 floor. A break could pull the token toward $8.43, while a real recovery would need a push back toward $16.55.

MEMASA faces a different test: turning an AI trading concept into an app people open every day. If it succeeds, demand for its utility token could grow alongside the ecosystem. Future returns depend on app development, user adoption, and demand for $MEMASA.

Outcomes for both LINK and MEMASA remain uncertain, and higher potential comes with higher risk.

This article is based on a report originally published by Blockonomi.