Chainlink (LINK) has seen a significant decline in its price, dropping from highs above $30 to around $15, leading to concerns among traders about the possibility of further decline. However, as a decentralized oracle network, Chainlink remains a strong long-term project. The current price structure suggests a struggle to find buying pressure, potentially leading to further downside. The next critical support level for LINK is around $12-$13, which has historically acted as a strong demand zone. If this level is not held, the price could drop to $10 or lower. The possibility of LINK breaking below $10 depends on whether $12-$13 can act as support. The Relative Strength Index (RSI) is approaching the oversold zone, indicating potential weakening of selling pressure. The Heikin Ashi candles also suggest a slow down in the bearish trend. To confirm a reversal, LINK needs to reclaim $17-$18, which used to be a strong support zone. A break above this level could lead to a rally towards $20-$22. A successful breakout above $22 could indicate a larger trend reversal. However, if resistance levels are not broken, there could be continued sideways movement or further declines. The current critical price level for LINK is $12-$13, and short-term traders may await a break above $17-$18 for a safer entry point. Long-term investors could consider accumulating in the $12-$15 range. The direction of LINK's next move will depend on whether support is defended or if further breakdowns occur.



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