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coinpedia 2025-04-10 18:50:12

Chainlink (LINK) Could Drop to $7.5, Expert Shares Key Insight

Chainlink (LINK) Could Drop to $7.5, Expert Shares Key Insight

The post Chainlink (LINK) Could Drop to $7.5, Expert Shares Key Insight appeared first on Coinpedia Fintech News Amid ongoing volatility, LINK, the native token of Chainlink, is poised for a notable price decline in the coming days. Based on the current price action, a prominent crypto expert shared a post on X (formerly Twitter) today, April 10, 2025, suggesting that LINK could be heading toward the $7.50 level. #Chainlink $LINK appears to be retesting its breakout zone, potentially setting up for a continuation toward $7.50. pic.twitter.com/ZrfXXJFRAD — Ali (@ali_charts) April 10, 2025 Expert Views on LINK Upcoming Level In a post on X, the expert emphasized that LINK appears to be retesting its recent breakdown of an ascending trendline that has been in place since June 2023. This prediction will only be valid if the LINK price remains below the trendline; otherwise, it will be invalidated. Source: Trading View LINK Current Price Momentum At press time, LINK is trading near $11.95 and has recorded a price decline of over 6% in the past 24 hours. During the same period, its trading volume dropped by 40%, indicating lower participation from traders and investors. This drop in trading volume was potentially caused by the significant price fluctuations experienced by LINK holders and traders over the past 24 hours. Chainlink (LINK) Price Action and Key Levels According to CoinPedia’s technical and price analysis, LINK has been moving in a downtrend within a falling wedge pattern. The price has already faced resistance at the upper boundary of the pattern and is now heading toward the lower boundary. However, due to the prevailing bearish market sentiment, downside momentum is likely in the coming days. Source: Trading View Based on recent price momentum and historical patterns, if the LINK price remains below the $13.25 level, there is a strong possibility it could drop by 20% to reach the $9.50 level. Meanwhile, if market sentiment remains unchanged and the price closes a daily candle below the $9.50 level, the next support LINK could test is at the $7.50 level. On the other hand, if the LINK price breaks out of the falling wedge pattern and closes a daily candle above the $13.25 level, a massive 35% upside rally is also possible in the coming days.

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