Chainlink (LINK) Price Shows Signs of a Potential Reversal, Retesting Rising Channel's Lower Boundary

Despite a recent 1% gain, LINK has experienced a 28% drop since the second inauguration of Donald Trump.

Chainlink (LINK) price is showing signs of a potential reversal as it forms a hammer candlestick and retests the lower boundary of a rising channel. Despite a recent 1 percent gain, LINK has seen a 28 percent drop since the second inauguration of Donald Trump.

As the altcoin market prepares for a potential major rally, Chainlink (LINK) is flashing signals of a possible trend reversal. The large-cap altcoin, boasting a fully diluted valuation of about $13.8 billion and an average 24-hour trading volume of around $373 million, concluded last week with a hammer candlestick – a beacon for traders that a price rebound might be brewing.

In the past 24 hours, LINK has risen by roughly 1 percent, trading at approximately $13.76 during the early New York session on Monday, March 17. However, the price has fallen by more than 28 percent since the second inauguration of U.S. President Donald Trump.

Key Technical Levels to Watch

From a technical analysis perspective, LINK has been following an overall upward trend, forming higher highs and higher lows over time. On the weekly chart, the price is currently retesting the lower boundary of a rising channel, which could be a sign that an impending reversal is approaching.

If bullish momentum intensifies, LINK could soar to $24 in the short term, aligning with the daily 1.618 Fibonacci retracement level. However, if the price drops below $13 and remains at that level, further losses toward $10 may follow.

Chainlink’s Network Continues to Expand

Moving beyond price action, the Chainlink network is expanding rapidly and playing a crucial role in the adoption of Web3 technologies. Recently, it has attracted attention from major institutional investors, including World Liberty Financial (WLFI), a project backed by President Donald Trump.

Last week, the Chainlink network reported 11 new integrations across 4 services and 12 different blockchain ecosystems, showcasing its expanding footprint in the decentralized finance space.

This development comes as the broader cryptocurrency market prepares for a potential altcoin season, which could see smaller cryptocurrencies experience significant price gains.

As Chainlink approaches a crucial technical level, traders are keeping a close eye on whether buyers can regain control. While Chainlink’s strong fundamentals and expanding presence in Web3 are positive signs for the long term, short-term price movements will depend on whether it can hold above key support levels.

FAQs

What will be the price of LINK in 2025?

LINK price could trade at an average price of $47 during 2025.

What will be the price of LINK in 2030?

LINK price could close the annual trade for 2030 with a price tag of $189.