Chainlink continues to trade under heavy selling pressure as price hovers near the $14 support zone.
Analysts note that the coin’s broader downtrend remains intact, with key levels now determining whether buyers can prevent a deeper market breakdown.
Analyst Highlights Critical Channel Support Zone
Analyst Don emphasized on X that Chainlink is trading near the lower boundary of its descending channel, a structure that has guided price action for several months. The coin currently sits near $14–$15, an area where buyers previously attempted to stabilize the trend.
Source: X
According to Don, the $14 support zone represents a decisive region. Holding above the channel floor could create a long opportunity targeting a recovery toward $30–$33, aligning with the upper limit of the broader trend structure.
However, a breakdown toward the $12 risk zone would confirm continuation of the bearish channel and invalidate near-term bullish setups.
Bearish Daily Close Adds Pressure to Market Structure
A second chart from CRYPTOWZRD shows LINK trading around $14.30–$14.50, sitting above a key horizontal support zone near $12.50. The daily candle closed bearish, and the analyst notes that the coin’s next major move will likely correlate with Bitcoin’s broader direction.
A descending trendline has consistently acted as dynamic resistance since September, preventing any sustained bullish momentum.
Source: X
To the downside, a clean break below $12.50 could expose deeper supports at $10 and $9.50. To the upside, the token must reclaim $16 and then break above the descending trendline for any meaningful shift in structure.
Until that occurs, the broader trend remains defensive, favoring short-term intraday setups over long-swing positioning.
Chainlink Price Pulls Back but Maintains Key Support Levels
Over the past 24 hours, the token recorded a -2.65% decline, trading near $15.40 after failing to hold above the $14.03 resistance zone. The price action shows a steady intraday downward movement, with selling pressure increasing as traders secured profits following a short-term rally.
Daily trading volume remained firm at around $922 million, reflecting continued participation despite the correction. The decline below $14.03 confirmed a temporary bearish sentiment among short-term traders.
LINKUSD 24-Hr Chart | Source: BraveNewCoin
Despite the pullback, the market capitalization stands at approximately $9.7 billion, keeping it among the top twenty cryptocurrencies by valuation. The price is currently consolidating near the $14.03 range, a level that could serve as a short-term accumulation base.
Technical Indicators Show Bearish Momentum Dominating
At the time of writing, LINK trades at $14.29, reflecting continued weakness on the daily timeframe. Price is tracking along the lower Bollinger Band, confirming persistent bearish momentum.
The baseline (20-day MA) near $16.20 stands as immediate dynamic resistance, while the upper band at $18.88 signals a higher barrier unlikely to be tested without a strong reversal.
Source: TradingView
The MACD remains bearish, with the histogram printing negative bars and the MACD line positioned below the signal line.
A breakdown below $13.50 could expose the next demand region around $12–$12.50, matching the structural support highlighted by both analysts. For bulls, the first sign of relief would be a daily close above the basis line, which could allow movement toward $17–$18.