Chainlink (LINK) price is in a bearish state at press time, down over 20% in the last 30 days as investors search for signs of recovery. LINK’s dropoff reflects technical breakdowns and broader crypto market weakness, compounded by trader liquidations and mixed sentiment around key Chainlink network developments. Its price action remains locked in a descending trendline, and traders are eyeing either a breakout or a further 20% decline.
Several crypto experts and analysts on X (formerly Twitter) are discussing the current price of LINK. Several have indicated that now is a crucial point for the altcoin, while others believe it has strong upward potential. “LINK is on the verge of the abyss; if it doesn’t bounce off the $12.5 support, it will be in trouble,” said one LINK analyst on X. On the flip side, others suggest that not only is now a good time to buy the dip, but LINK’s current price zone has reignition potential.
Chainlink LINK has fallen to $12.50, a dangerous low that could mean further decline is coming. Fortunately, recent data from CoinGlass reveals $16.2 million in outflows from exchanges over the last week. This suggests strong accumulation of LINK amid the dip, which may help reduce sell pressure and support price recovery if it persists.
Also Read: Chainlink To Lead Stablecoin Surge, Co-Founder Says
Furthermore, traders appear to be following the bullish path for Chainlink, strongly betting on the bullish side. CoinGlass data shows $9 million in long positions concentrated around the $12.55 mark, while shorters built $3 million in positions near $13.35. Not only would a rebound to this level give these betters a huge win, but the Chainlink LINK asset would etch its path back towards $14 and higher. Ultimately, the next week could prove pivotal for LINK’s immediate future.
According to analysis from CoinCodex, LINK could rise in the next month, but its price momentum remains bearish. “According to our current Chainlink price prediction, the price of Chainlink is predicted to rise by 3.05% and reach $ 13.20 by July 19, 2025,” the analysts write. “Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 54 (neutral).”
Credit: Source link
