$15 Is Key for $LINK: Reversal Zone or Breakdown?

Key Insights:

• Chainlink sits at major support, with indicators showing possible bullish divergence on daily timeframes.
• $15 aligns with long-term triangle structure; breakdown risks deeper correction, rebound signals trend shift.
• Market sentiment remains cautious as LINK tests $15, a level tied to strong historical demand.

Chainlink (LINK) was trading around $15.70, showing a 24-hour drop of 8.48% and a 7-day decline of 14.60%, based on current market data. The asset has moved closer to the $15 level, a price that several analysts describe as a key area for potential reversal or further downside.

This level has seen strong buyer interest in the past and coincides with a high-volume support area. According to technical analysts, if LINK fails to hold above $15, it may trigger a deeper correction. If it holds, the zone could serve as the foundation for a recovery phase.

Technical Indicators Signal Potential Reversal

Rick Barber, a market analyst, stated that LINK is showing “bullish divergence on Stoch RSI and RSI,” while also maintaining a “bull cross on MACD.” These indicators, used by many traders to detect trend changes, may suggest early signs of price stabilization.

The daily chart supports this view, showing weakening downside momentum. The presence of strong historical volume near the $15 mark adds further context. Barber noted that unless the price closes below this level, the current decline may represent “short-term noise and the flushing of fear.”

However, he also acknowledged uncertainty: “Could all this keep going down and get invalidated… OF COURSE.” This reflects ongoing caution among market participants.

Long-Term Structure Supports Larger Breakout Scenario

A separate long-term analysis by Ali points to a symmetrical triangle pattern on the 3-day timeframe, stretching from early 2022. The lower trendline of this pattern aligns closely with the $15 zone. The structure represents a long period of price consolidation that may precede a major breakout.

Ali suggests that $15 could serve as a “golden buy zone” before a larger move to the upside. His chart outlines potential future targets at $32, $53, and up to $100, based on Fibonacci extension levels. These projections are conditional on a confirmed breakout above the $23–$24 range.

The pattern remains valid as long as the structure holds and price stays within the boundaries of the triangle.