Chainlink Price Could Start ‘New Bull Rally’ – Here’s The Level To Watch

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	661,450,579	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

661,450,579

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.016	-3.64%	0.423	0.422	0.424

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.016

-3.64%

0.423

0.422

0.424

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.439	0.421	0.439	0.439	0.356000 - 1.51

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.439

0.421

0.439

0.356000 - 1.51

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	10:37:19	66.11	0.423	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

10:37:19

66.11

0.423

USD

Price x Volume	Volume	Base Symbol	Related Pairs
92,031.47	213,070.31	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

92,031.47

213,070.31

Chainlink Price Could Start ‘New Bull Rally’ – Here’s The Level To Watch

08/02/2025 9:30pm

NEWSBTC

The Chainlink price was one of the several victims of the bearish pressure that swept the entire crypto market at the start of last week. The altcoin’s value fell to $17 — for the first time since late November 2024 — in almost a single move on Monday morning. Chainlink Price Overview The price of Bitcoin dropped to $92,000 after news of US President Donald Trump’s trade tariffs sparked fears of retaliatory actions and a potential trade war. Interestingly, Bitcoin’s price plunge was relatively less significant than that of the altcoin market, with large-cap assets like Ethereum falling by nearly 30% in one swoop. Specifically, the Chainlink price kicked off the week with a 32% slump, succumbing to the bearish pressure triggered by the US trade tariffs. As of this writing, the LINK token has recovered above the $18 mark despite a 1.4% price decline in the past 24 hours. Related Reading: Ethereum Outflows On Derivative Exchanges Hit Record Lows: What It Means for ETH Although the LINK price looks set for a bullish recovery, there seems to be a lull in its movement over the past few days. This sluggishness may be somehow connected to a crucial resistance level, which could prove pivotal to the start of a fresh bull run. Here’s Why $23.76 Is Crucial Prominent crypto trader Ali Martinez took to the X platform to share a significant level that could be crucial to the long-term health of the Chainlink price. This analysis is based on the average cost basis of several LINK investors. In cost-basis analysis, the ability of a level to act as support or resistance depends on the total amount of coins last acquired by investors in the region. In the chart below, the size of the dot represents and directly corresponds to the number of LINK tokens purchased within a price bracket. Recent data from IntoTheBlock shows that around 96,760 investors bought approximately 110.43 million Chainlink tokens within the $20.96 – $26.25 price range — at an average price of $23.78. The high purchasing activity has led to the formation of a supply barrier within this price region. The $23.78 region acts as a resistance zone because of the elevated number of investors with their cost basis in and around it. This level has the potential to witness significant selling pressure from investors wanting to sell their tokens after returning to a breakeven point, thereby hindering further price increases. This implies the potential supply of LINK tokens could overwhelm the buying demand within the $20.96 – $26.25 bracket. According to Martinez, a successful breach above the $23.78 level could set the stage for a new bull rally for the Chainlink price. Related Reading: Bitcoin Price Attempts a Comeback: Can the Recovery Hold? Featured image from Unsplash, chart from TradingView

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