The post Chainlink Price Tests Critical $12.40 Pivot as LINK Struggles Below All Moving Averages appeared on BitcoinEthereumNews.com.

Zach Anderson
Dec 23, 2025 17:50

LINK price drops 2.8% to $12.37, trading below key moving averages with RSI at 40.80 signaling potential oversold conditions as technical indicators dominate price action.

Quick Take • LINK trading at $12.37 (down 2.8% in 24h) • No major catalysts driving movement – purely technical factors at play • Price testing critical $12.40 pivot point support level • Following broader crypto weakness with Bitcoin correlation intact Market Events Driving Chainlink Price Movement Trading on technical factors in absence of major catalysts defines the current LINK price action. No significant news events have emerged in the past 48 hours to drive fundamental price movements, leaving traders to focus on chart patterns and momentum indicators from the Binance spot market. The lack of fresh catalysts has resulted in LINK price consolidating within a narrow trading range between $12.07 and $12.76 over the past 24 hours. With trading volume at $36.6 million on Binance, institutional interest appears muted as the market awaits fresh developments to establish clear directional bias. This technical-driven environment places increased importance on key support and resistance levels, particularly as LINK price hovers near the calculated pivot point of $12.40. The absence of fundamental drivers makes the current setup especially sensitive to broader cryptocurrency market sentiment and Bitcoin’s price movements. LINK Technical Analysis: Bearish Structure Dominates Price Action Context Chainlink technical analysis reveals a challenging setup as LINK price trades below all major moving averages. Currently at $12.37, the token sits beneath the 7-day SMA ($12.38), 20-day SMA ($13.24), 50-day SMA ($13.64), and significantly below the 200-day SMA ($17.63). This bearish alignment suggests sustained selling pressure and lack of bullish momentum. The EMA configuration tells a similar story, with the 12-period EMA at $12.75 and 26-period…

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Filed under: News - @ December 24, 2025 5:17 am