- LINK broke below key Bollinger Band support, pointing to more downside unless $17.30 is reclaimed.
- RSI and MACD both signal strong bearish momentum.
- Long-term structure’s still intact as long as $13 support holds firm.
Chainlink’s having a rough go lately. The token dropped more than 6% in the past 24 hours, landing around $15.95 at the time of writing. As Bitcoin cools off, altcoins are following suit—and LINK’s feeling the heat more than most.
Market sentiment’s shifted into risk-averse mode, and technical signals aren’t looking too friendly. If this keeps up, LINK might need to brace for a deeper correction unless bulls step in fast and reclaim some key levels.
Slips Below Bollinger Band—Not a Great Sign
Technically, LINK’s broken below the lower edge of its Bollinger Band—right under $16.10. That’s usually a sign of growing volatility and bearish momentum taking over. The 20-day SMA up at $17.30? That’s resistance now. And unless price can crawl back above that, it’s hard to see a bullish case holding together.
Eyes are on $15.67 as the next important support level. If that cracks, $15.00 could be next. Possibly lower. So far, we haven’t seen any strong reversal signs. If it can’t regain the middle Bollinger Band soon, expect more chop—or worse.
RSI and MACD Are Bearish… Like Really Bearish
The RSI’s sitting down at 24. That’s deep in oversold territory, which sometimes means a bounce is coming—but not always. Right now, there’s no momentum shift forming. It’s just… red.
MACD? Also not helping. The MACD line’s down at -0.128, and the signal line’s even lower at -0.371. The gap between them is growing, which just reinforces the idea that sellers are in control.
But Zoom Out—The Bigger Picture Isn’t Broken
Now, here’s a bit of a silver lining: analyst Ali Martinez chimed in to say that LINK’s broader trend still looks fine—as long as the token stays above $13.
That longer-term structure is still intact. So even if it gets messy short term, long-term holders might want to hang tight. Institutional interest hasn’t dried up entirely, and if $13 holds, the bull case is still alive… just delayed.
