Key Insights:
- Chainlink price prediction for the upcoming days suggests a potential 20% drop.
- LINK’s bearish thesis will remain valid if it trades below the descending trendline.
- With this bearish outlook, intraday traders appear to be over-leveraged at $13.97 on the lower side and $14.55 on the upper side.
Following a sharp downside move and prevailing bearish sentiment, Chainlink prediction has become a central topic among traders. Discussions focus on determining the asset’s potential trajectory for its next move.
With a 9% price decline at press time, LINK has broken down from a bearish price action pattern. It is now poised for a massive decline.
Chainlink (LINK) Technical Analysis and Price Action
According to expert technical analysis & Chainlink prediction, the token appears bearish. It has taken resistance from a descending trendline and the 200-day Exponential Moving Average (EMA), seemingly repeating history.
The four-hour chart showed that Chainlink has rejected this trendline since February 2025. However, LINK registered an impressive upside move in late February and early March 2025, along with other cryptocurrencies.
The asset formed a textbook-style bearish rising wedge pattern during this price surge. Meanwhile, as LINK’s price reached the descending trendline, it faced selling pressure.
This led to further decline and a shift in sentiment. After that, the price continued to fall, eventually breaking from the bearish pattern and experiencing a sharp drop.
Recent price action indicates a bearish outlook for Chainlink in the coming days. Analysts suggest the asset may face a 13% decline as selling pressure increases.
This sparked a Chainlink prediction that a drop could bring the price down to the support level of $12.50. Traders are closely monitoring these levels to assess potential reversals or further downside risks.
Meanwhile, this bearish thesis will remain valid as long as LINK trades below the trendline. Otherwise, it may fail.
At press time, LINK price was trading at nearly $14.40. Over the past 24 hours, the token recorded a 9% price decline.
However, the asset’s trading volume jumped by 21% during the same period. This indicated increased participation from traders and investors following the breakdown.
Over-Leveraged Zones Signal More Downside Risk
Following the breakdown and activation of bearish momentum, intraday traders appear to capitalize on the current trend. They are strongly betting on the bearish side. The same was reported by the on-chain analytics firm Coinglass.
Data shows that traders with bullish sentiments were over-leveraged at the $13.97 price level. They had accumulated $2.44 Million worth of long positions, reflecting heightened optimism.
The $14.55 price level appears to be heavily over-leveraged. Traders with bearish outlooks have collectively opened short positions worth $4.10 Million at this level.
This activity occurred within the past 24 hours. It reflected a concentrated bet against further upward price movement.
The current metrics suggest that bearish sentiment is prevailing in the market. This dominance by bears indicates a potential downward pressure on LINK’s price in the near future.
Such trends align with a cautious outlook for Chainlink prediction, hinting at possible price declines ahead.