Chainlink (LINK) Price Prediction: Will LINK Price Continue Its Decline?

Over the past 24 hours, the price of Chainlink (LINK) has been facing a strong selling pressure as it continues to consolidate below $14.

The price of Chainlink (LINK) has faced strong selling pressure over the past 24 hours as it continues to consolidate below $14. Sellers have gained control, aiming for a hold below immediate Fib levels.

The fear/greed index has surged, now showing a fear sentiment at level 24. Meanwhile, Chainlink’s trading volume dropped by 15.18% to $262 million.

Looking at the longer trend, LINK’s price has been declining since mid-December, dropping from a high of $31 to about $15 on 3 February. In recent weeks, LINK price has been facing minor volatility as it aims for a hold above $15. In the last 24 hours, its market capitalization dropped by 1.6%, hitting $9 billion.

LINK Faces Rising Bearish Threat

Chainlink (LINK) continues to struggle under intense selling pressure, with sellers successfully suppressing the price critical $14 mark. The past 24 hours has seen more bearish activity, placing further strain on LINK’s price action.

According to recent data from Coinglass, approximately $949K worth of LINK positions were liquidated over the past day, with long positions suffering the most at around $858K. In comparison, short liquidations totaled just $91K, clearly illustrating the sellers’ current dominance in the market.

Further underscoring the bearish environment, trading interest in Chainlink has also diminished. Open interest, which measures the total outstanding trading positions, dropped by 0.7% to $488 million over the past 24 hours. Additionally, the funding rate has turned negative, currently sitting at -0.0127%, strengthening the potential for continued bearish momentum in the short term.

Chainlink Price Prediction: Technical Analysis

Chainlink (LINK) recently faced significant selling pressure after failing to hold above the critical $14 resistance mark, leading to a sharp downturn and a period of consolidation near $13. Currently trading around $13.73, LINK has declined by roughly 1.67% in the last 24 hours.

Sellers continue to dominate, firmly holding LINK below the important Fibonacci retracement level. The bearish scenario is reinforced by the Relative Strength Index (RSI), now hovering around 33, clearly within bearish territory, indicating potential for further downward movement.

On the positive side, if buyers manage to regain momentum and defend LINK’s rising trendline support, the price could rally toward resistance at $18.12. A decisive move beyond this point might boost market confidence, opening the door for a possible advance toward the next major resistance around $20.

Conversely, failure to sustain above the ascending trendline could intensify bearish pressure, potentially pushing LINK down toward key support at roughly $11.70. A breakdown below this level may lead to deeper declines, firmly placing Chainlink in a strongly bearish outlook.

LINK Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, LINK price might continue to decline. If the price holds below $15, we might see $11.7. On the upside, $18.12 is the range.

Long-term: According to Coincodex’s latest Chainlink price prediction, LINK is projected to rise approximately 23.27%, potentially reaching $17.46 by April 28, 2025. Coincodex’s technical indicators currently highlight bearish market sentiment, alongside a Fear & Greed Index reading of 26, reflecting “Fear.” Over the past 30 days, Chainlink experienced 16 green days (53%) and exhibited price volatility of about 6.87%. Given these conditions, Coincodex suggests it is currently not an optimal time to buy Chainlink.

How much is the LINK price today?

LINK price is trading at $13.73 at the time of writing. The LINK price has dropped by over 1.67% in the last 24 hours.

What is the Chainlink price prediction for March 30?

Throughout the day, the LINK price might continue to decline. If the price holds below $15, we might see $11.7. On the upside, $18.12 is the range.

Is LINK a Good Buy Now?

According to long-term forecasts, the Chainlink price might reach $17.46 by April 28. This makes LINK price a good investment considering its monthly yield.

Investment Risks for Chainlink

Investing in LINK price can be risky due to market volatility. Investors should: