LINK Holds $8.00 Support but Breakdown Points to Deeper Correction

LINK is currently trading just above the $9.00 mark and is starting to show some signs of momentum on the lower timeframes. As we pointed out in our previous analysis, LINK remains trapped in a strong downtrend and the loss of the crucial $12.00 support earlier this month during the broader market selloff has left it vulnerable to further downside in the coming weeks. Price has managed to bounce off the $8.00 support level and is showing some life, but this looks more like bulls trying to establish a foothold while bears take a breather rather than the kind of meaningful relief rally, we typically see after heavy selling pressure. Let's take a closer look at the latest LINK charts to see where the price might be headed over the next few days.

Our LINK Price Prediction Summary

• LINK is range bound between $8.00 and $9.00 with weak buying pressure keeping any relief rally unlikely in the short term.
• The downtrend since October remains intact with price breaking below $12.00 and heading toward $5.50 if current support fails.
• The breakdown below $10.00 on the weekly chart signals deeper correction ahead as this level held during past bear cycles.

Analyzing the Charts

Consolidation Between $8.00 and $9.00

Looking at the latest 4-hour chart, LINK has established solid support at the $8.00 level and is currently holding above it. Price is facing resistance around the $9.00 mark and appears to be settling into a consolidation pattern between these two levels. This kind of sideways movement is fairly typical after the heavy selling we saw earlier this month, as the market usually responds with either a short-term relief rally or an extended period of consolidation. Bears have clearly lost steam and are taking a breather, giving bulls some room to work with at current levels. However, bulls have yet to show the kind of conviction needed to spark a meaningful push higher. For now, expect more sideways action between $8.00 and $9.00 as both sides regroup after the recent volatility.

Daily Chart Shows Extended Downtrend

Shifting to the 1-day timeframe, LINK remains caught in a persistent downtrend that has been building since the market crash back in October. The $12.00 level held firm as support for several months throughout this decline, absorbing multiple retests before finally giving way during the correction earlier this month. Once that level broke, the selloff accelerated and price sliced through the $9.50 zone without finding much support, eventually reaching the $8.00 mark where we are now. This $8.00 level has stepped in as the new line in the sand for bulls to defend. We expect some consolidation between $8.00 and $9.50 over the near term as the market digests these losses and both sides reassess. That said, the pattern of lower highs remains intact and once bears regain their footing, another leg down becomes the more likely scenario. If that plays out, the $5.50 level emerges as the next major support area to watch.

Breaking Below Critical Weekly Support

The 1-week chart paints an even more concerning picture for LINK bulls. Price has now broken below the $10.00 mark, a critical macro level that previously acted as support during the last two extended bearish cycles. This was a floor that had proven resilient through months of downward pressure in the past, and seeing it break confirms the strength of the current downtrend. While $8.00 is holding for now on the shorter timeframes, the weekly close below $10.00 carries more weight and suggests that a move toward the $5.50 level is becoming increasingly likely over the coming weeks and months. This is why our current LINK price prediction leans heavily to the bearish side.

Final Takeaway: What is Next for LINK?

LINK remains under significant pressure across all timeframes with bears firmly in control of the overall structure. The short-term picture shows consolidation between $8.00 and $9.00 after the recent bounce from support, but there is little evidence that bulls have the strength to mount anything more than a brief counter move at this stage. The daily chart tells the story of a persistent downtrend that has been methodically grinding lower since October, and the recent break below $12.00 has only reinforced that bearish momentum. Most concerning is the weekly timeframe breakdown below $10.00, a level that had held firm during previous bearish cycles and whose loss suggests deeper correction is ahead. If the $8.00 support fails, we expect a brief pause somewhere between $8.00 and $9.50 before price continues its journey toward the $5.50 level. Given the current technical setup, our LINK price prediction remains tilted to the bearish side and we would need to see a decisive reclaim of key levels before reconsidering that view.