Chainlink (LINK/USD) remains in a strong downtrend after failing to break above key resistance at $14.45.
Selling pressure continues to dominate, increasing the likelihood of a drop toward $11.582, a major support key-level. Read on for a full technical breakdown.
Chainlink (LINK) continues to struggle under heavy bearish pressure, failing to reclaim the $14.45 resistance level. The rejection at this key level confirms the weakness in buying momentum, reinforcing the broader bearish structure. As of today [20.03.25], Chainlink is trading at $14.18, maintaining a bearish trajectory as sellers push prices lower.
The immediate focus is on $11.582, the next key local support, which represents an important short-term profit target. A decisive break below this level will likely accelerate downside moves all the way toward $6.35, marking the previouse major low point from August 2024.
Chainlink’s Vision & Market Position
Despite the current bearish momentum, Chainlink remains one of the most influential blockchain projects, providing decentralized oracles that enhance smart contract functionality. Its role in enabling secure, real-world data feeds for blockchain applications remains a fundamental strength. However, short-term market sentiment continues to weigh heavily against LINK, increasing the probability of an extended corrective move before any potential recovery.
Bearish Catalysts & Technical Breakdown
Failure to Break Key Resistance: The rejection at $14.45 highlights weak buying momentum and reinforces the downside bias.
Sustained Bearish Momentum: The price structure remains firmly bearish, with lower highs and lower lows signaling continued selling pressure.
Break Below Local Support Imminent: If LINK fails to hold above $14.45, a rapid move toward $11.582 becomes highly probable.
Extended Bearish Cycle in Play: Broader market sentiment suggests that Chainlink could remain under pressure unless buyers reclaim control above $14.45.
Key Price Levels to Watch
Major Resistance: $14.45
Current Price: $14.18
Local Support & Profit Target: $11.582
Major Bearish Target: $11.582
Stop-Loss Consideration: Above $16.037
Conclusion
Chainlink’s failure to reclaim $14.45 signals a continuation of the current bearish trend, with $11.582 and even $6.35 as the next downside targets. Unless LINK can stage a significant recovery and break key resistance, sellers remain in control. Traders should monitor price action closely, particularly around $14.45, as a breakdown below this level will likely confirm further downside movement.
Selling pressure continues to dominate, increasing the likelihood of a drop toward $11.582, a major support key-level. Read on for a full technical breakdown.
Chainlink (LINK) continues to struggle under heavy bearish pressure, failing to reclaim the $14.45 resistance level. The rejection at this key level confirms the weakness in buying momentum, reinforcing the broader bearish structure. As of today [20.03.25], Chainlink is trading at $14.18, maintaining a bearish trajectory as sellers push prices lower.
The immediate focus is on $11.582, the next key local support, which represents an important short-term profit target. A decisive break below this level will likely accelerate downside moves all the way toward $6.35, marking the previouse major low point from August 2024.
Chainlink’s Vision & Market Position
Despite the current bearish momentum, Chainlink remains one of the most influential blockchain projects, providing decentralized oracles that enhance smart contract functionality. Its role in enabling secure, real-world data feeds for blockchain applications remains a fundamental strength. However, short-term market sentiment continues to weigh heavily against LINK, increasing the probability of an extended corrective move before any potential recovery.
Bearish Catalysts & Technical Breakdown
Failure to Break Key Resistance: The rejection at $14.45 highlights weak buying momentum and reinforces the downside bias.
Sustained Bearish Momentum: The price structure remains firmly bearish, with lower highs and lower lows signaling continued selling pressure.
Break Below Local Support Imminent: If LINK fails to hold above $14.45, a rapid move toward $11.582 becomes highly probable.
Extended Bearish Cycle in Play: Broader market sentiment suggests that Chainlink could remain under pressure unless buyers reclaim control above $14.45.
Key Price Levels to Watch
Major Resistance: $14.45
Current Price: $14.18
Local Support & Profit Target: $11.582
Major Bearish Target: $11.582
Stop-Loss Consideration: Above $16.037
Conclusion
Chainlink’s failure to reclaim $14.45 signals a continuation of the current bearish trend, with $11.582 and even $6.35 as the next downside targets. Unless LINK can stage a significant recovery and break key resistance, sellers remain in control. Traders should monitor price action closely, particularly around $14.45, as a breakdown below this level will likely confirm further downside movement.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.