NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Chainlink Reaches an “Accumulation Zone” as Potential Long-Term Bottom Forms

Cole Petersen
Cole Petersen
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Chainlink has been seeing intense weakness throughout the past few weeks, which has come about following a period of macro strength that allowed its price to rally up to highs of $20.00.

The cryptocurrency has since posted enormous losses that have erased months of upside, leading some analysts to now anticipate further losses in the near-term.

LINK is currently in the process of breaking below its macro support at $10.00, with bears beginning to garner full control of its near-term outlook.

One analyst is noting that the $8.00 to $9.00 region is a strong support zone that could ultimately mark a long-term bottom.

That being said, he still believes that its macro outlook is incredibly bright, noting that he is setting his sights on a move up towards $32.00 during the course of its next bull run.

Chainlink Shows Signs of Weakness as Bulls Lose Their Strength

At the time of writing, Chainlink is trading down over 2% at its current price of $9.83. This marks a notable decline from its recent highs of $10.80 that were set just a matter of hours ago.

These highs came about when bulls attempted to invalidate its near-term weakness and catalyze a sharp uptrend.

The rejection here, however, struck a blow to its technical outlook, with this weakness being compounded by the massive pressure being placed on altcoins by both Bitcoin and Ethereum at the present moment.

Until BTC and ETH find some stability or resume their uptrends, there’s a strong possibility that they will continue creating headwinds for altcoins like Chainlink.

This recent dip also forced LINK below its long-time support level at $10.00. If it is unable to reclaim this level in the near-term, it could indicate that further downside is imminent.

Analyst: LINK Likely to Dip Towards $8.00 Before Seeing Strong Rebound 

While speaking about Chainlink’s near-term outlook, one analyst explained that he is confident that it will see a strong push up towards $32.00 during the next bull phase.

He does believe that it may first see some downside, pointing to the region between $8.00 and $9.00 as somewhere where he will be placing bids.

“Stinkbids on LINK at $8-9 and accumulating some now around $10. Invalidation if price starts [dipping] below stinkbids & will build more size if trend confirms. I think this is going to $28-32 on the next run. BTC pair also looks ready to turn around soonish,” he explained.

Chainlink LINK

Image Courtesy of Bitcoin Jack. Chart via TradingView.

How the aggregated market trends in the days and weeks ahead should hold heavy influence over Chainlink’s mid-term outlook.

Featured image from Unsplash.
Chart from TradingView.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

SOL幣價格現強勢能突破300美元嗎?牛市來臨前最值得下注的1000倍幣!

根據最新價錢走勢,Solana(SOL)今日又升5%,目前徘徊於168美元上下,與年初不到40美元的水平相比,已出現顯著反彈,年內漲幅超過280%。儘管短期內面臨盤整壓力,但市場情緒依然積極,部分技術...

Kelvin Lee 3 hours ago
Bitcoin

Bitcoin Dominance Just Got Rejected From TSDT Resistance That Triggered Last Altcoin Season — Details

Bitcoin Dominance (BTC.D) has hit a critical turning point after getting sharply rejected from a TSDT resistance level that previously...

Scott Matherson 5 hours ago
Bitcoin

Bitcoin’s Next Milestone: $250K In Sight After $120K Test, Analyst Says

Bitcoin spent about nine months stuck below $110 K before finally pushing past that ceiling this month. The move up to...

Christian Encila 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Price Breaks Out

Ethereum Price Breaks Out: Smashes $3,400 Mark in Bullish Run

Aayush Jindal 58 minutes ago
Bitcoin Price Pauses for Breath

Bitcoin Price Pauses for Breath—Consolidates Gains Before Next Big Move?

Aayush Jindal 1 hour ago
Ethereum price news

Ethereum Could Shoot Above $4,000 This Week, Predicts Analyst

Jake Simmons 2 hours ago

Premium Sponsors

Press Releases

  • 2 kryptoměny s extrémně vysokým oceněním, které mohou stát za to riziko

    2 kryptoměny s extrémně vysokým oceněním, které...

    9 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    2 rendkívül magas árfolyamú kriptovaluta, amelyeket...

    10 hours ago
  • 2 криптовалути с небесни оценки...

    12 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    13 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    ...

    13 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.