Chainlink Price Hits a 50-Month Low—Is a Major Sell-Off Coming?

Chainlink (LINK) is facing a critical moment as its price hits a 50-month low against Bitcoin (BTC), raising concerns about a potential 45% drop. Despite strong fundamentals, the price has been trending downward. Let’s explore the key factors behind this decline and potential risks for LINK investors.

Chainlink Price Decline and Key Support Levels

  • Recent Price Drop:
    Chainlink has dropped 3.2% in the last 24 hours, trading at $10.66 as per Coinpedia markets data. This follows a larger trend, with LINK hitting a 50-month low against Bitcoin. The decline has raised concerns of further weakness.


For a deeper dive into Chainlink Price Prediction and market trends, check out our detailed analysis.

  • Bearish Breakout:
    LINK has broken below a critical support level on the weekly chart, signaling a possible 45% drop. The next key support level is around $5.00 to $6.50. A break below this could signal more bearish pressure.



What Does the 50-Month Low Against Bitcoin Mean for LINK?


  • Chainlink’s Struggles Against Bitcoin:
    Chainlink’s performance relative to Bitcoin has sharply decreased. The 50-month low suggests a loss of investor confidence in LINK, resulting in increased selling pressure.

  • Bitcoin’s Dominance:
    Bitcoin’s increasing adoption by financial institutions has contributed to its market dominance. As Bitcoin performs well, LINK struggles to keep up, further declining in value against BTC.

  • Possible Reversal:
    While the 50-month low is concerning, such lows can sometimes signal a reversal. If market conditions shift, LINK could recover, but this remains uncertain.

Technical Indicators Point to a Bearish Trend



  • Head and Shoulders Pattern:
    The LINK chart shows a Head and Shoulders pattern, a classic bearish signal. The neckline is around $11.50 to $12.00. If LINK fails to break above this, it could see a 45% decline, potentially reaching $5.00.

  • Resistance Levels:
    Immediate resistance is at $11.50 to $12.00. A breakout above this zone could signal a potential recovery. The next major resistance is at $15.00.

What’s Next for Chainlink?

The next few days are critical for Chainlink.

  • Key Support Levels:
    If LINK falls below $10.00, the next significant support is around $5.00 to $6.50. A break below this range would be highly bearish.

  • Resistance and Reversal:
    If LINK can break above $11.50 to $12.00, it could signal a reversal and recovery. A close above this level would suggest a bullish trend.

Chainlink faces a possible 45% crash if the bearish trend continues. Technical indicators show weakness, but if LINK can reclaim key resistance levels, there may still be hope for recovery. Investors should monitor support and resistance zones closely in the coming days.

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