Chainlink on Sol KursLINK

$LINK Price Tests Lower Bollinger Band at $13.72 as RSI Signals Oversold Conditions Chainlink technical analysis shows $LINK price at $13.72 $NEAR critical support as momentum indicators suggest potential bounce from oversold levels in absence of major catalysts.

Chainlink Bears Firmly in Control, But Watch Out for THIS! Chainlink ($LINK) has recently faced intense selling pressure, with bears dominating the market. The rally earlier this year from $10.94 to $27.87 set clear Fibonacci retracement levels that traders have been closely watching. One notable level was $15.44, which previously acted as a strong support aligned with weekly swing zones. However, last week’s session close at $13.73 marked a significant shift. LINK has now fallen below two critical long-term supports: $15.44 and $14.56. The latter, an essential Fibonacci retracement point, could not be defended by bulls, signaling continued downward momentum. Technical indicators, particularly the On-Balance Volume (OBV), reflect consistent selling pressure over the past months. With the OBV showing no signs of a bullish reversal, bears appear firmly in control for the time being. But here’s what traders should watch: key support zones and potential capitulation levels around $12–$13. A sharp rebound from these areas could spark a short-term bounce, offering an opportunity for bulls to regain footing. Until then, caution remains essential, as LINK’s momentum clearly favors the downside.

Chainlink bears firmly in control, but watch out for THIS! The rally from $10.94 to $27.87 earlier this year provided clear Fibonacci retracement levels. Those levels aligned with weekly swing zones, including $15.44, which acted as another key support. The previous week’s session close at $13.73 meant that LINK had fallen below two key long-term supports, namely, $15.44 and $14.56. The latter was an important Fibonacci retracement level that bulls were unable to defend. The OBV showed that selling pressure has been steady in recent months, and a bullish comeback was nowhere in sight.

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