As the crypto market faces turbulence, Chainlink coin is buckling

As the crypto market faces turbulence, Chainlink coin is buckling under bearish pressure, trading near a critical support level.

As the crypto market navigates turbulent waters, Chainlink coin is feeling the heat of bearish pressure, currently trading close to a critical support level. According to recent analysis, if Chainlink slips below this point, we can expect to see a 22% drop.

However, there's still a chance for Chainlink coin to stabilize as buyers move in to defend the current support. A recovery in Bitcoin or Ethereum prices could also improve market sentiment and offer relief to altcoins like Chainlink coin. Additionally, Chainlink's ongoing partnerships and ecosystem developments might help restore confidence and support a potential rebound in its value.

Chainlink Coin Price Prediction: What's Next for LINK?

The Chainlink coin price is hanging precariously close to a key support level of $16.15. If the price drops below this point, we can expect to see a decline of 22%, pushing the Chainlink coin price to around $12.75.

The formation of a double-top pattern on the price chart, along with a bearish divergence in the Relative Strength Index (RSI), indicates weakening buying strength. Furthermore, recent activity in the derivatives market shows that large institutions are placing substantial short positions against Chainlink coin. With over $10 million in short interest, the collective opinion among institutional traders seems to be leaning bearish, anticipating a further decrease in Chainlink's value.

However, if buyers manage to defend the current support zone and if there's a recovery in the prices of Bitcoin or Ethereum, we might see a scenario where Chainlink coin price manages to stabilize and potentially rebound.

If Chainlink coin price fails to find support at the $16.15 level, we can expect to see a drop of 22%, pushing the price to around $12.75. This move would also complete the double-top pattern, which usually signals a substantial price reversal.

On the other hand, if the buyers intervene to defend the support zone, we might witness a scenario where Chainlink coin price manages to stabilize and potentially stage a comeback. Moreover, a recovery in the prices of Bitcoin or Ethereum could improve market sentiment and offer relief to altcoins like Chainlink coin.

Additionally, Chainlink's ongoing partnerships and ecosystem developments, such as Chainlink CCIP and Chainlink Labs' initiatives, might help restore confidence in the project, ultimately supporting a potential rebound in its value.

Cardano Price Prediction 2025: How High Can ADA Go?

The price prediction for Cardano in 2025 is optimistic, especially if we consider the current adoption trends and network upgrades. According to recent analysis, ADA could be trading between $3 and $5 this year. This will largely depend on whether the broader crypto market experiences another bullish cycle, which could propel ADA to even higher levels.

The analysis also mentions that any Cardano price prediction will be influenced by several factors, including regulatory changes, global economic conditions, and overall investor sentiment, which could affect the magnitude of ADA's gains or losses. Despite the possibility of short-term corrections, Cardano's emphasis on security, scalability, and sustainability makes it a strong contender for long-term growth.

If Cardano manages to maintain its momentum, we could see ADA reaching new all-time highs, rewarding patient holders with significant returns in the coming years.

The promise of substantial and rapid ROI is piquing the interest of many, especially with the limited-time BDAG800 bonus, which is granting buyers 400% more coins on every purchase for a limited time. This unique offer translates to more coins in your wallet without increasing your holding amount, ultimately leading to a dramatic increase in your ROI potential.

The excitement surrounding BlockDAG is palpable as it has already raised $204 million with 18.8 billion BDAG sold. As whales make massive moves and the window for the BDAG800 bonus begins to close, the spotlight is falling on this new opportunity.

With many analysts highlighting BlockDAG as a top crypto to watch in 2025, the chance to secure such an advantage before prices climb even higher seems to be slipping away as the BlockDAG presale rapidly approaches its final stages.