Chainlink Drops 15% Despite U.S. Deal — Could LINK Rebound Above $25 or Risk Deeper Losses?

Chainlink recently saw its value plummet by 15%, even after securing a significant U.S. partnership. This alarming trend raises questions about LINK's future performance. Will it manage to bounce back above $25, or is it facing the threat of further declines? The article delves into potential outcomes and identifies promising coins ready for growth.

Chainlink Eyes Growth as It Tests Crucial Resistance Levels

Source: tradingview 

Chainlink (LINK) is trading between $21.59 and $23.68, showing promising momentum. Recently, it has risen by about 16 percent over the past month and by a significant 75 percent in the last six months. The coin is close to its first resistance level around $25 and could target the next at nearly $27 if it breaks through. These levels suggest a potential growth of about 14 percent from its current range. With indicators suggesting strength and a steady trend above moving averages, Chainlink seems poised for more gains if it can clear these resistance hurdles.

Conclusion

LINK has dropped significantly, despite a major deal in the U.S. The possibility of a recovery above $25 is uncertain. Market volatility continues to affect LINK's performance. Investors are watching for any signs of a potential turnaround. A further decline could place LINK in a more challenging position. The next few days or weeks are crucial for determining its trajectory. Careful monitoring of market trends and news will be essential for any recovery efforts.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.