Chainlink Bears in Control—Can LINK Avoid a Deeper Crash?
The post Chainlink Bears in Control—Can LINK Avoid a Deeper Crash? appeared on BitcoinEthereumNews.com.
Chainlink is trading near the lower Bollinger Band at $14.04, indicating heightened volatility as $13 support level remains a key threshold, with a break below potentially leading to further losses. It secured a major partnership with the Abu Dhabi Global Market (ADGM) to advance blockchain adoption. Chainlink (LINK) price is under fresh bear pressure as the overall cryptocurrency market is in decline. The coin, which was on track to return to the top 10 largest cryptocurrencies, has lost its gains made in earlier times of market-wide selling pressure. The recent price action has increased investor worries about its short-term stability and long-term growth prospects. Chainlink Price Performance & Key Levels At present, trading at $13.72, Chainlink price has lost 3.68% in the past 24 hours. The steep pullback comes on the back of a general market decline that deepened during mid-day trading, with Bitcoin’s decline further compounding the problem. The sell-off has positioned LINK as one of the worst-hit altcoins in the top 20, according to its percentage decline over the last day. In spite of the drastic fall, Chainlink has been relatively resistant in longer time frames. The token is still up 1% for the week, and its YTD growth remains at 34.76%. Nevertheless, analysts are observing closely whether this latest drop may lead to further decline or if a possible recovery is around the corner. Technical Analysis Amid Market Volatility Looking at the LINK/USDT 4-hour chart, the asset is sitting around the lower Bollinger Band at $14.04. This placement indicates increased volatility with traders weighing if the price would break downward or rebound towards the upper resistance levels. The Bollinger Band deviation shows extreme price changes, creating speculation about the next move for LINK. Source: TradingView Over the last month, Chainlink has been able to hold above the…
Filed under: News - @ March 30, 2025 6:22 am