Chainlink (LINK) Price Prediction: $13.00 Support Lost as Weekly Channel Breaks Lower

Weekly Break of the Long-Term Rising Channel

Pulling up the 1-week chart only reinforces the bearish case. For the first time in a long stretch, LINK is breaking below the rising channel that has contained price action since the 2023 lows. This week’s candle has already punched through the lower boundary, and a close beneath it would confirm the breakdown of a multi-year structural support. That kind of weekly structure failing usually signals a deeper correction at minimum, and in the current tape, it raises the real possibility that LINK is rolling over into a proper bear market phase.

Momentum and RSI Both Favor Continued Selling Pressure

The weekly RSI is sliding toward oversold territory, but oversold readings alone rarely stop a strong trend. Price can (and often does) keep grinding lower for weeks before any real bounce materializes. All of this is exactly why our near-term LINK price prediction remains firmly bearish.

Final Takeaway: What is Next for LINK?

Putting it all together, Chainlink has now lost the $13.00 daily support and is in the process of breaking a multi-year rising channel on the weekly timeframe. These are two major technical events happening at the same time while Bitcoin and the broader market continue to bleed lower. Until we see clear evidence of demand stepping in (a strong reversal candle with volume or a decisive reclaim of $13.00), the technical picture stays unambiguously bearish.

Next realistic downside targets sit around $10.00 - $10.50 (previous major low and psychological zone), followed by the $8.00 - $8.50 area if selling accelerates. Any bounces from current levels are likely to remain corrective and offer better short entries rather than sustainable reversals.