Chainlink Price Could Crash 30% To $15

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,846,734,015,212	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,846,734,015,212

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	82.47	0.09%	93,469.23	93,469.22	93,469.23

Price Change

Price Change %

Current Price

Bid Price

Offer

82.47

0.09%

93,469.23

93,469.22

93,469.23

High Price	Low Price	Open Price	Prev. Close	52 Week Range
94,321.25	93,281.63	93,455.87	93,383.35	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

94,321.25

93,281.63

93,455.87

93,383.35

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	04:52:41	0.000020	93,469.23	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

04:52:41

0.000020

93,469.23

USD

Price x Volume	Volume	Base Symbol	Related Pairs
115,858,590.96	1,237.06	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

115,858,590.96

1,237.06

Chainlink Price Could Crash 30% To $15 — Here’s How

28/12/2024 6:30pm

NEWSBTC

The Chainlink price has been under intense bearish pressure over the past week, mirroring the current state of the general market. The altcoin’s value continues to slide deeper after briefly touching the $30 mark in mid-December. A prominent analyst on the social media platform X has come forward with an even more bearish forecast for the future of Chainlink. Below is how the cryptocurrency could slump as low as $15 in the near future. This Chart Pattern Suggests Chainlink Price Could Drop 30% In a new video on the X platform, crypto analyst Ali Martinez put forward an interesting bearish prediction for the price of Chainlink. According to the crypto pundit, the LINK price appears to be set up for at least a 30% correction. Related Reading: Ethereum On The Cusp Of Major Breakout In Q1 2025, Altcoins Expected To Follow Suit The rationale behind this prediction is the formation of a head and shoulders pattern on the 4-hour chart of the Chainlink price. A head and shoulders pattern is a chart formation used in technical analysis characterized by three price peaks, where the outside two (shoulders) are similar in height, and the middle (head) is highest. The head and shoulders pattern is considered one of the most reliable trend reversal patterns, which predicts the shift from a bullish trend to a bearish situation. However, a price close beneath the support line (neckline) connecting the two swing lows is needed to confirm the trend reversal. According to Martinez, this support line lies around $21.30, and a 4-hour candlestick needs to close beneath this level in order to confirm the bearish theory. Also, the Chainlink price might also need to close beneath the $20 support level in order to fall all the way to $15. As of this writing, the price of Chainlink stands at around $21.30, reflecting an over 7% decline in the past 24 hours. According to CoinGecko data, the altcoin’s value is down by nearly 10% over the last seven days. LINK Investors Continue To Fill Their Bags The recent price action of Chainlink has been quite discouraging, but investors appear to be doubling down on their positions. The latest on-chain data suggests that the Chainlink whales are buying the dip. Related Reading: Bitcoin Price Retests Support Line After Crash Below $95,000, Here’s The Next Target According to data from Santiment, whales acquired more than 2.7 million LINK tokens (equivalent approximately to $57 million) in the past two days. If it persists, this level of buying activity from whales could positively impact the Chainlink price. Featured image from Unsplash, chart from TradingView

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