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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Chainlink Faces Grim Outlook as it Nears Bedrock Support Level

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Uniswap

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’s price has been witnessing massive inflows of selling pressure throughout the past few weeks, with buyers being unable to garner any control of its mid-term trend in the time following its rejection at $20.00.

The cryptocurrency has now firmly broken below its previous support level at $10.00 and appears to be in a precarious position as analysts watch for further downside in the near-term.

While speaking about the cryptocurrency’s current outlook, one analyst explained that he is now targeting a decline down towards $7.90, which appears to be a bedrock support level for the token.

He notes that there is a possibility that LINK begins rallying now, with the support here potentially being enough to send it rocketing back up towards its previous highs.

One trader is noting, however, that a loss of a key parabolic support level against its Bitcoin trading pair could soon come to fruition, with this potentially causing it to see some serious macro downside.

Chainlink Plummets Lower as Sellers Maintain Control

At the time of writing, Chainlink is trading down 10% at its current price of $8.80, which marks a notable decline from daily highs of $10.60 that were set during a relief rally seen yesterday.

After holding above $10.00 for an extended period of time, the cryptocurrency eventually faced a massive influx of selling pressure that caused its price to reel to fresh multi-month lows.

The last time LINK was trading this low was in early August, just before it incurred a parabolic uptrend that sent its price surging up to highs of over $20.00.

This marked a long-term top for the crypto, as it has since plummeted lower and is showing few signs of finding any long-term support.

One trader did state that a dip towards $7.90 could be enough to help send it up towards its all-time highs.

“Just one more little push, grant me this marines,” he said while pointing to the below chart.

Chainlink LINK

Image Courtesy of Teddy. Chart via TradingView.

LINK Could Invalidate Its Macro Uptrend if Bulls Fail to Defend One Key Level 

While speaking about the cryptocurrency’s near-term outlook, another analyst explained that it is now at risk of breaking a parabolic trendline formed against its Bitcoin trading pair.

“Important note: lose current support and it looks grim. Either way, LINK looks to provide some proper volatility and thus opportunity,” he explained while pointing to the below chart.

Image Courtesy of Bitcoin Jack. Chart via TradingView.

If Chainlink dips below this level in the near-term, it could create some headwinds that stunt its growth against its USD pair as well.

Featured image from Unsplash.
Charts 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

如何使用VPN爬牆進行網上賭博 中國玩家最喜歡哪些玩法和赚取紅利!

2025年加密與博弈融合的市場格局正在改寫亞洲玩家的行為模式,调查显示,尤其是來自中國大陸的玩家,儘管面對政策封鎖與支付審查,仍透過VPN技術成功進入海外賭場搶食紅利。這已經不單是「能不能玩」的問題,...

newsbtc 1 hour ago
Dogecoin price news

Dogecoin About To Explode? ‘Don’t Send It Too Hard,’ Analyst Warns

The news that Iran and Israel have agreed to a ceasefire brokered by US President Donald Trump may have marked...

Jake Simmons 1 hour ago
Ethereum Price at Risk of Downside Break

Is Ethereum Staging A Repeat Of 2021? Here’s Why A 200% Surge Could Follow

Ethereum saw a notable decline in its price over the last week, and the weekend culmination pulled the price back...

Scott Matherson 3 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

Шансы на одобрение ETF XRP подскочили до 95%

lisachaikina 8 minutes ago
bitcoin koers, wat gaat btc doen

BTC koers blijft boven $100K ondanks historisch lage vraag – wat gaat Bitcoin doen?

Lars Diederiksen 27 minutes ago
Która kryptowaluta ma większe szanse uczynić cię milionerem

Która kryptowaluta ma większe szanse uczynić cię milionerem: Solana czy Ethereum?

Zieliński Michał 59 minutes ago

Premium Sponsors

Press Releases

  • Cryptocurrencies have become the best way to invest as the...

    9 hours ago
  • Global mining has no boundaries! ETHRANSACTION supports...

    12 hours ago
  • Dogecoin Mining’s New Era: How HashJ Cloud Mining Turns...

    14 hours ago
  • ico 仮想通貨注目!Solana価格急落でもSolaxy(SOLX)ico 仮想通貨プレセール残りわずか数時間

    ico...

    14 hours ago
  • Solaxy SOLX

    ...

    14 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.