Chainlink (LINK) is trading lower this week as sellers regain control. The price has slipped to around $12 at press time, following a 7% drop in the past 24 hours.
Meanwhile, the focus now turns to whether it can stabilize or if the path lower toward $8 is now open.
Breakdown Signals Weakness in Structure
LINK lost support at the $15 level recently. That level marked the 0.618 Fibonacci retracement zone, often used to gauge trend strength. Since breaking below it, the price action has turned more bearish. LINK is now hovering below the former ascending channel that guided its trend from mid-2023.
According to analyst Ali Martinez, LINK may be “retesting the breakdown zone before a move toward $8.” He pointed to prior support now acting as resistance. Unless the price reclaims the $14–$15 area, downside risk remains. The next key levels are around $10 and $8, in line with historical reactions on the chart.
Chainlink $LINK could be retesting the breakdown zone before a move toward
We współpracy z: https://cryptopotato.com/chainlink-link-breakdown-bears-aim-for-8-as-pressure-mounts/
