Chainlink has held around $13.15 after a 15% drop, testing the support zone that fueled previous rallies.
The price action area remains stuck in a descending trend channel, traders are waiting for a breakout or a 20% drop to determine the next trend.
Over the past week, the Chainlink [LINK] cryptocurrency has dropped more than 15%, but at the moment, it has reached a key price level that could trigger a rebound reaction. Technical analysts and investors have been paying attention to this price level, with many predicting a recovery, although there are mixed views on where LINK will go next.
If this support level is lost, it's all over!
Experts and analysts on X (formerly Twitter) have been discussing LINK’s current price, with some calling it a milestone, while others say the upside potential is still clear.
On June 18, a Prediction analyst asserted that:
“LINK is on the brink of the abyss; if it doesn't bounce from the $12.5 support, it will be in big trouble.”
On the contrary, another group believes that this price zone can continue to trigger LINK's uptrend and maintain the recovery trend in the short term.
Although geopolitical tensions between Israel and Iran are creating uncertainties in market sentiment, LINK's technical configuration in this region remains a battleground between bulls and bears, determining the short-term trend of this cryptocurrency.
Prices remain stable, trading volume increases
At the time of writing, LINK is trading around $13.15, up slightly by 0.55% on the day. 24-hour trading volume is up 10%, indicating that investors are starting to return to the market.
Source: CoinGlass
Data from CoinGlass shows that over the past week, about $16.2 million worth of cryptocurrencies have been withdrawn from exchanges, indicating a positive accumulation trend that could reduce selling pressure and support a price recovery trend if maintained steadily.
Betting transactions increase to 9 million USD
Additionally, momentum traders are leaning long, with long positions concentrated around $12.55. Meanwhile, shorts have built new positions near $13.35, totaling around $3 million.
Source: CoinGlass
These levels show that bulls are dominating LINK’s market sentiment, reinforcing expectations for a short-term bullish momentum for the cryptocurrency.
What does the technical diagram reveal…
According to technical analysis from TinTucBitcoin, LINK appears to be in a bullish state and ready for a positive trend reversal.
The daily chart shows that the $13.15 price level has clearly shown a bounce since late April 2025, which suggests that this support zone has the potential to push the price higher.
Source: Trading View
The price zone between $12.65 and $13.15 has seen bounces in the past, if this level holds, the LINK/USD pair could move towards the $15–$16 resistance level in the medium term.
However, if LINK falls below $12.50 and closes below this level on the daily chart, a 20% drop to $10.15 is possible, leading to a stronger corrective trend.
Source: https://tintucbitcoin.com/lien-minh-chainlink-giam-15-xu-huong-moi/
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