Chainlink Price Drops Below Key Levels With $14 Support in Focus

Chainlink is exhibiting a confirmed Head and Shoulders breakdown, indicating a bearish shift as the price trades below key moving averages.

Analysts highlight $14–$15 as a critical accumulation zone within LINK’s long-term ascending channel, with potential for a rebound toward $50 if support holds. Current trading hovers near $16.70 amid consolidation and cautious sentiment.

Head and Shoulders Breakdown Confirms Bearish Shift

Chainlink has confirmed a Head and Shoulders breakdown on the daily timeframe, signaling a potential bearish reversal. Alpha Crypto Signal observed that the neckline breach, combined with rising sell volume, reflects a transition from bullish to bearish sentiment after an extended rally. The pattern, a traditional reversal indicator, suggests that recent momentum may be losing strength.

LINKUSDT Chart | Source: x

According to the analyst, its bearish structure remains intact as long as the price stays below the neckline and fails to regain the 9-day exponential moving average (EMA) near $18.25. The token’s inability to reclaim this short-term trend indicator underscores weakness among buyers. Similarly, LINK trades below its 50-day simple moving average (SMA) at $21.88, reinforcing the downward pressure.

Technical Outlook Points to Key Support Between $13 and $14

The analysis identifies the next support zone around $13–$14, where both horizontal and ascending trendline supports align. This confluence level could act as a possible area for a technical rebound if sellers begin to lose strength.

For now, Chainlink remains in a corrective phase. The ongoing decline mirrors the completion phase of the Head and Shoulders setup, where sellers typically push prices toward the measured target range. Maintaining levels below the neckline confirms continued bearish bias, although short-term consolidation may occur before the next major move.

Analyst Sees $14 as Potential Buy Zone for Long-Term Traders

Analyst Ali presented an alternative long-term outlook, identifying $14 as a potential accumulation region. His chart indicates that the asset has remained inside an ascending channel that has guided its price trajectory since 2023. The current retracement toward the channel’s lower boundary suggests the possibility of renewed buying interest near this level.

LINKUSDT Chart | Source:x

Ali’s projection envisions a rebound from this support, which could form the basis of a gradual recovery targeting $50 over time. The path includes reclaiming key resistances at $22 and $28 before advancing toward the upper channel limit near $45–$50. This scenario reflects a cyclical recovery pattern consistent with previous multi-year trends, but it depends on the token maintaining support near $14–$15.

Current Market Conditions and Price Behavior

At the time of writing, Chainlink trades at $16.71, marking a 4.33% decline over the past 24 hours. Its market capitalization stands at $11.63 billion, while daily trading volume reaches $1.32 billion. The price action shows intraday fluctuations, with the asset briefly touching $16.80 before easing lower as traders took profits amid cautious sentiment.

LINKUSD 24-Hr Chart | Source: BraveNewCoin

Technically, the price has lost upward momentum after recent rallies, with repeated failures to sustain higher highs above $16.80. The narrowing range between $16.60 and $16.70 indicates potential consolidation as volatility cools.

Should the altcoin break below $16.30, traders may look for support at $16.20. Conversely, a move above $17.20 could renew short-term bullish momentum, potentially leading to a target of $18.00.