Chainlink (LINK) is in a bit of a tricky spot right now. It’s holding above a key support level on the two-day chart, but it’s been facing some challenges. Despite the pullback, it’s still above the $15.90 level, and although the chart has had a sharp correction, nothing major has broken down. However, the bearish scenario suggests that Chainlink might continue to pull back, possibly even testing lower levels like the $15 mark again before it could potentially bounce.
Bitcoin’s price fell following news of US President Donald Trump’s trade tariffs, which raised concerns about possible retaliation and a trade war. Meanwhile, Chainlink started the week with a price drop, driven by the bearish sentiment caused by the tariffs. Although LINK shows potential for a rebound, its price has been relatively stagnant in recent days.
Crypto analyst Ali Martinez wrote on X (Formerly Twitter), “The most critical resistance zone for #Chainlink $LINK to break is $23.78. A breakout above this level could pave the way for a new bull rally!”
What to Watch For:
Chainlink could still make a push up to levels above $30, but it needs to hold above its current support levels to make that happen. If it breaks below this week’s low, it could send the price back into a lower range, possibly retesting the August lows.
Short-Term Focus:
On the shorter time frame, the price is trying to start moving up. It’s showing signs of support around $17.50 and could potentially break above the $19.85 level to gain some upward momentum. If it breaks higher, watch for targets around $21–$22.
