ChainLink (Link) Cryptocurrency acquired a big DIP on Thursday, falling from 6.7%, nearly $14. It almost reversed all profits we saw in the last seven days, but it’s up 9% at the time of press. ChainLink’s 6.7% 24-hour decline reflects recent profits, technical resistance and profits after weaknesses in the broader crypto market.
Link has recently fallen below $15 resistance when it comes to investors. Experts have suggested that they are bullish on the Altcoin season’s rink and could potentially reach $20. The assets have recently recovered $16, but have since fought under that mark. Right now I’m struggling to pick up the momentum I saw earlier this week. Will the assets be able to return over the weekend or is this the beginning of a further decline in ChainLink?
Next steps in ChainLink
ChainLink’s RSI and MACD show neutral momentum, indicating the balance between buyers and sellers of links. Traders are paying attention to the key levels of the link/USDT chart that ChainLink can move on. Link is currently facing resistance in 2025 at $20. This is the level that the seller has intervened before. Push past where you can send links to areas ranging from $25-26. Beyond is a mid-term target of $28-30, consistent with its late 2024 highs. However, the longer links stall at under $15, the less likely they are to recover their assets this summer.
ChainLink suffers from several factors that have caused prices today. Links are directed at its immediate resistance $15.12 Pivot Points and 50 Day SMA ($15.07). Fibonacci 61.8% retracement level ($14.63) and 50% level ($15.23) created a “selling zone” that caused profits. The MACD histogram was changed to positive (+0.165), whereas RSI (52.1) indicates neutral momentum. This is not enough to break Link’s current resistance and stalls the price.
Additionally, the stalling of some crypto ETFs is worrying about cryptocurrency investors as a whole. These concerns have leaked to chain links, with hopes of $20 in danger. The ChainLink platform has seen the good news recently. Successfully promoted CBDC-Stablecoin exchange between Hong Kong and Australia. However, investors feel that the current price is the best they can get, moving the links in large quantities and prices will drop.
Currently, traders are monitoring support of $13.77, and the break could target $12.68 (swinglow). Unless your assets post a strong rebound this weekend, they could spurt freely into $12.
