The cryptocurrency market has certainly struggled in recent weeks. With increased geopolitical concerns and a brewing US trade war, cautious traders have seemingly dominated the market. However, a turnaround could be set to take place for one crypto. Indeed, Chainlink could eye a jump to $20, as experts say a bullish reversal could be coming amid LINK’s most recent 4% drop.
The asset has struggled alongside some of the biggest tokens on the market. Indeed, Bitcoin has been stuck at the $84,000 level, down less than 1% on Tuesday. Yet, if a key support is able to hold up for Chainlink, things could be set to change in a hurry for the asset.
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Chainlink Faces Key Turning Point: Why LINK Has $20 Upside and $10 Downside
For much of 2025, tariffs and brewing trade wars have dominated the year. Macroeconomic factors have been inseparable from stagnated finance markets as investors look for any sign of life. Unfortunately, amid the country’s economic frailty, uncertainty is the only promise.
However, data is still encouraging a potential turnaround on the horizon. One cryptocurrency that has become a focal point is Chainlink (LINK), which could be set to enjoy a bullish turn toward the $20 mark despite its 4% drop on Tuesday.
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The crypto is currently down more than 9% over the last 30 days, according to CoinMarketCap. However, trading at the $12.36 mark, it was up more than 11% over the last week before reversing within the last 24 hours. According to one analyst, the $12 mark will be critical to where LINK goes next.
The figure marks a key Fibonacci retracement point, as the asset is currently consolidating. Indeed, it is at the mare amid its 60% drop from its December $27 high. If the support doesn’t hold, it could break below the $10 mark. Specifically, it could threaten a fall to lows of $7.50.
Chainlink is currently suffering from a bearish sentiment, according to investors. Yet, there is still hope. The asset’s daily trading chart has shown a bullish reversal pattern in a falling wedge signal. Moreover, in the event of a breakout from its current position, LINK has $24 potential in the near term.
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