Chainlink’s 15% drop: Assessing where LINK can head next

• Chainlink hovered close to $13.15 after a 15% drop, testing a assist zone that sparked earlier rallies.
• Worth motion remained locked in a descending trendline, with merchants eyeing a breakout or a 20% decline.

Chainlink [LINK] dropped over 15% prior to now week, however throughout press time, it landed on a key worth stage that might spark a bounce.

The sell-off caught the eye of analysts and traders, lots of whom are betting on a rebound, although not all agree on what comes subsequent.

Yet another slip and it’s gone!

A number of specialists and analysts on X (previously Twitter) mentioned the present stage of LINK, with some indicating it’s a essential level for the altcoin, whereas others consider it has sturdy upward potential.

On the 18th of June, an analyst made a daring prediction, stating,

“LINK is on the verge of the abyss; if it doesn’t bounce off the $12.5 assist, it is going to be in bother.”

In the meantime, others took the alternative aspect, suggesting that this zone may reignite LINK’s momentum.

Regardless of geopolitical jitters between Israel and Iran clouding broader sentiment, LINK’s technical setup at this stage has change into a battleground between bulls and bears.

Worth holds regular, however quantity surges

At press time, LINK traded close to $13.15 with a 0.55% day by day uptick. Buying and selling quantity spiked 10% inside 24 hours, exhibiting that market members have began re-entering.

Supply: CoinGlass

Furthermore, knowledge from CoinGlass confirmed $16.2 million in outflows from exchanges during the last week, suggesting sturdy accumulation.

This will likely assist scale back promote strain and assist worth restoration if it persists.

$9 million value of bullish bets

Not solely that, however merchants additionally seem like following the identical path, as they’ve been discovered strongly betting on the bullish aspect.

CoinGlass knowledge revealed $9 million in lengthy positions concentrated across the $12.55 mark, whereas shorters constructed $3 million in positions close to $13.35.

Supply: CoinGlass

These ranges point out that bulls are at present dominating the altcoin.

Technical charts trace at…

In keeping with AMBCrypto’s technical evaluation, LINK seems bullish and poised for a possible worth reversal.

The day by day chart revealed that the present stage of $13.15 is an space the place LINK has beforehand proven upside momentum since late April 2025.

Supply: Buying and selling View

The $12.65–$13.15 zone has traditionally seen rebounds, and a maintain right here may goal the $15–$16 resistance.

Nonetheless, if LINK slips beneath $12.50 and closes underneath it on the day by day chart, a 20% drop towards $10.15 may observe.