Link price drop: Rejection of resistance - Is deep diving inevitable?
Jul 02, 2025 pm 06:39 PMAfter Chainlink (LINK) encountered a downward trend in price after being suppressed by key resistance levels. Will it rebound or continue to fall in the future?
LINK price has fallen sharply: hindered by key resistance - is a deeper pullback a foregone conclusion?
Chainlink (LINK) has recently encountered market selling pressure, and its price fell 3.8% after the critical resistance area failed to break through. Is this a short-term adjustment or the beginning of a larger decline? Let's find out.
The resistance area remains strong
Previous analysis pointed out that around $13.82 is a key resistance band, which is highly coincident with the 0.618 Fibonacci retracement level. Although LINK tried to attack this position, it has never been able to stand firm effectively, indicating that the short side still dominates. The region remains a key barrier to price increases.
Support level worth paying attention to
In the short term, initial support is around $13.16. If the decline continues, the range of $12.00 to $12.50 may provide stronger support. The previous low of $10.92 is regarded as an important bottom reference for this round of oscillation.
There are differences in technical signals
Although some analysts have identified bullish reversal patterns around $13.15, the current price decline has made the outlook unclear. Previously, the price maintained a higher low and once broke through the consolidation pattern, showing the bullish intention, but the current trend has turned to a weaker one. Since mid-May, prices have shown a gradual downward trend.
What are the possible paths for the future of LINK?
If LINK can successfully stand above $13.82 at the daily level, it is expected to reverse the current weakness and challenge higher targets - the Fibonacci retracement level of $14.17 and $14.44. However, as long as US$13.82 has not been effectively broken, the price still has the possibility of downward testing support.
Summarize
LINK is at a turning point. The failure of the price at key resistance highlights the pressure it faces. Whether to stop falling and rebound, challenge resistance again, or continue to seek new support on the downward trend, is worthy of continuous attention. Please pay close attention to changes in key prices!
Friends in the crypto market, please be prepared! LINK's price fluctuations continue. Will it usher in an explosive rise or further decline? Let's wait and see what's going on together!
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