According to an analysis posted on X by CRYPTOWZRD, Chainlink has closed the session with a bearish tone and is now testing the key $12.50 support level. With reduced weekend liquidity expected, price action is likely to remain choppy, making it essential to closely monitor intraday volatility. A clearer setup could take time to develop, but this zone may offer early clues about the token’s next move.
Oversold Pressure Builds: Is LINKBTC Ready To Rebound?
In his expanded commentary, CRYPTOWZRD underscored that both the LINKUSDT and LINKBTC daily candles closed firmly bearish, mirroring Bitcoin’s broader pullback and highlighting the altcoin market’s continued sensitivity to BTC’s moves. He emphasized that this pattern underscores the need for healthier bullish candles to emerge before a sustainable recovery can take hold.
CRYPTOWZRD stated that LINKBTC sits in extremely oversold territory, suggesting that a positive reversal is statistically likely. Should a bounce materialize, he expects it to ignite a sharp upside spike in LINK, effectively flipping sentiment from bearish to bullish in short order.
Turning to absolute price structure, CRYPTOWZRD noted that Chainlink is currently trading right at the $12.50 daily support target, a zone he considers pivotal. A decisive bullish reversal from this level, he argues, is essential to trigger an impulsive upside move and reestablish upward momentum.
If buyers can reclaim control, CRYPTOWZRD identifies $16 as the next critical resistance, followed by a more substantial barrier at $19.50. Clearing these levels would signal that the tide has truly shifted, paving the way for a broader trend change rather than a short‑lived bounce.
Despite this bullish roadmap, CRYPTOWZRD cautioned that Bitcoin’s weekend price action will remain a major influence on Chainlink, especially given the expected drop in liquidity. As a result, he plans to focus on lower‑time‑frame charts in the coming sessions, seeking quick scalp opportunities while waiting for clearer confirmation of direction.
Chainlink Intraday Setup Builds Around $12.85 Decision Point
Assessing the immediate outlook, the analyst notes that LINK’s intraday chart remains bearish and noticeably volatile, underscoring the market’s current uncertainty. Price action has been chopping around key levels, making any clear direction difficult to trust without firm confirmation.
On the bullish side, the analyst points out that a decisive breakout and sustained hold above the $12.85 intraday resistance could flip sentiment. If buyers manage to establish support above this line, the setup would present a compelling long opportunity with an initial upside target near $14.40, where the next significant resistance resides.
Conversely, the analyst warns that a failed attempt to hold $12.85—marked by a retest and subsequent decline- would favor the bears. Such rejection would create potential short setups, as renewed selling pressure could drag the price lower, especially if broader market conditions stay cautious.
Credit: Source link
