TLDR

Chainlink drops 21%, stabilizing near $17, as traders eye recovery potential.
Analysts see Chainlink targeting $28–$30 if support at $17 holds firm.
Chainlink’s price tests long-term trendline, signaling possible future gains.
Chainlink may rebound to $20–$22 after testing key volume support levels.

Chainlink (LINK) is facing a critical test of key support after a sharp drop of over 21% in the past 24 hours. While the sudden market downturn has raised concerns among some traders, analysts remain optimistic. They believe that LINK’s current price action signals a potential recovery toward $30, provided key support levels hold. Here’s an overview of Chainlink’s recent price movement and expert predictions.

Chainlink Faces Sharp Decline Amid Market Volatility

Chainlink experienced a notable decline, dropping by 21.63% in just one day. The price of the token fell from $22 to around $17.51 on October 12, 2025. This drop occurred amidst broader market weakness, contributing to increased volatility across the cryptocurrency sector.

Despite the sharp sell-off, daily trading volumes surged, reaching nearly $4 billion. This significant increase in volume shows active market participation, as traders adjusted their positions. LINK’s price had initially failed to hold key psychological supports at $18 and $20, but analysts are closely monitoring the $17.50 region for potential signs of stabilization. This level could provide short-term support before any possible recovery.

Analysts Point to Key Support Zones for Potential Rebound

According to analyst The Great Mattsby, Chainlink’s price action is still within a broader ascending trend, despite the recent volatility. The analyst highlights that LINK has tested its long-term 45° trendline multiple times.

This trendline has historically acted as a key support zone for the token, indicating a level of resilience. Mattsby explained that the 45° line converges around the $14.50–$17 support area, which has previously acted as a strong rebounding point for Chainlink.

As long as the price holds above this level, analysts suggest that the broader bullish trend could remain intact. Should this trendline continue to hold, Chainlink could see a recovery toward the $28–$30 range, aligning with historical cycles.

Short-Term Outlook and Potential for Recovery

While Chainlink has struggled in the short term, market analyst Mac remains hopeful for a rebound. Mac noted that LINK’s price dipped to its Yearly Volume Weighted Average Price (VWAP), a key level often monitored by institutional investors.

According to Mac, this movement indicates that excessive leverage has been flushed out, potentially setting the stage for a more sustainable recovery.

Mac also pointed out that Chainlink is one of the few altcoins maintaining a clean moving average structure. This is important because it suggests that the selling pressure might be easing, providing an opportunity for long-term investors to accumulate. Mac expects that LINK may rebound to the $19–$20 range before potentially moving higher.

Technical Analysis and Market Trends

Chainlink’s current technical structure suggests a period of consolidation within a broader upward trend. The convergence of support around the 45° angle and VWAP signals a potential area of strength for the token. The current price levels near $17 could act as a springboard for a recovery if buying activity increases.

If the token can maintain its position above the $17 support area and break through resistance at $18–$19, the bullish trend could gain momentum. In this case, analysts predict a possible rally toward the $28–$30 region. However, if support levels fail to hold, LINK could face further downside pressure, with some traders eyeing the $15 region as the next possible support.

Chainlink is testing critical support levels after a sharp price drop, but analysts continue to maintain a positive outlook for the token. If the current levels hold, Chainlink could recover, with some predicting a rally toward $30 in the near future.

The post Analysts Predict Chainlink’s Recovery to $30 After Testing Key Support Level appeared first on CoinCentral.

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Filed under: News - @ October 12, 2025 11:22 am