Chainlink Weekly Indicator Flashes Buy Signal – Can Bulls Hold $13.20 Support?
Chainlink has been under heavy selling pressure, trading in a downtrend as broader market weakness drags crypto prices lower. The entire crypto market remains on the defensive, with macroeconomic uncertainty and escalating trade war fears continuing to shake investor confidence. With no clear resolution in sight, many analysts believe this high-risk environment could persist for the coming months, placing further pressure on digital assets like Chainlink.
LINK has struggled to maintain upward momentum, and market sentiment remains divided. A growing number of analysts are warning of a possible break below current levels, potentially signaling the start of a prolonged bear market cycle. However, not everyone is bearish.
Top crypto analyst Ali Martinez recently shared a more optimistic take. According to his analysis, all eyes should be on the $13.20 support level — a critical trendline that has held strong through recent volatility. Martinez notes that this level could act as the launchpad for a new rebound in LINK’s price. Whether support holds or breaks will likely define Chainlink’s direction in the weeks ahead.
Chainlink Holds Key Support After 55% Drop
Chainlink is currently down more than 55% from its December high of around $30, struggling to find momentum as broader market conditions remain uncertain. Bulls have yet to reclaim any meaningful resistance levels, and price action has remained underwhelming amid ongoing selling pressure. Still, despite the weakness, bears have been unable to push LINK below the current demand zone — a sign that this area may be acting as a strong support floor.
If this level holds, a significant recovery could be on the horizon. The potential for a rebound is gaining attention, especially as macroeconomic uncertainty clouds the outlook. U.S. President Donald Trump’s latest tariff announcements and geopolitical moves are shaking financial markets, adding pressure to global economies and setting the stage for a potentially volatile era ahead. Crypto markets, often sensitive to global instability, remain caught in the middle.
Amid this backdrop, Martinez has highlighted a key technical level to watch: $13.20. According to Martinez, this support trendline could be the launchpad for the next major rebound in Chainlink’s price. Notably, the TD Sequential indicator has also flashed a buy signal at this level, further strengthening the bullish case for a turnaround.
While risks remain high, a strong defense of the $13.20 zone could trigger renewed momentum and offer bulls the chance to reclaim higher ground. The coming days will be crucial in determining whether LINK can stabilize and rally — or if the current support will finally give way to further downside.
LINK Trades At $13.20 As Price Tests Critical Support
Chainlink (LINK) is trading at $13.20 after enduring several days of intense selling pressure, placing the token in a crucial position. This level now acts as the last strong support before deeper losses, and bulls must hold above it to prevent a breakdown in market structure. A decisive defense here is essential, as slipping below the $13 mark could quickly lead to a drop beneath $12, dragging LINK into lower demand zones.
To shift momentum and spark a recovery rally, bulls need to reclaim higher ground — starting with a move above the $16 level. This zone has acted as a key resistance barrier in recent weeks, and a clean breakout would mark a meaningful shift in sentiment.
More importantly, a sustained push above $17 would bring LINK back above its 200-day moving average (MA) and exponential moving average (EMA), two critical technical indicators that signal broader trend strength. Reclaiming these levels would confirm renewed bullish momentum and could attract fresh demand from sidelined traders and investors.
For now, all eyes remain on the $13 level. Whether bulls defend it or not could determine LINK’s short-term fate — and set the tone for its next major move.
Featured image from Dall-E, chart from TradingView
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Ethereum Price Analysis: Assessing ETH’s Outlook After Dropping to $1,800
Ethereum continues to face pressure following its rejection from the $2,100 region, with the price now breaking below key support levels and testing lower demand zones.
Technical Analysis
The Daily Chart
On the daily timeframe, ETH remains firmly in a bearish structure, consistently printing lower highs and lower lows. The rejection from the $2,200 region and a subsequent breakdown below $1,900 has re-established bearish momentum, with the price now heading toward the next major demand zone around $1,600.
The 200-day moving average also trends slightly downward and sits far above price action, reinforcing long-term bearish bias. Moreover, the RSI is hovering near the oversold region, but without any bullish divergence or momentum shift, there’s little sign of a reversal. Unless ETH reclaims $2,200 with strong conviction, the path of least resistance remains to the downside.
The 4-Hour Chart
The 4-hour chart confirms the breakdown of the rising channel that supported ETH’s previous recovery attempts. The price failed to hold above the $1,900 level, which had acted as support during consolidation, and is now grinding lower, at nearly $1,800.
The clean rejection from $2,100 and the sharp selloff suggest that buyers lost momentum quickly, and sellers stepped in with force. The RSI is also currently in deep oversold territory, but without a strong bounce or bullish structure forming, there’s little evidence of dip-buying interest. For now, ETH looks weak, and even if a short-term bounce occurs, it may be capped at $1,900 unless stronger buyers step in.
Sentiment Analysis
By Edris Derakhshi (TradingRage)
Funding Rates
Ethereum funding rates across all major exchanges have flipped to neutral or slightly negative, signaling a significant reduction in aggressive long positioning. This shift suggests that traders have become more defensive and less willing to chase upside, which typically aligns with a cooling-off period or continued downside drift.
While neutral funding may reduce the likelihood of a liquidation cascade, it also indicates that confidence is lacking for a strong bullish reversal. Sentiment remains cautious, and unless there is a resurgence of positive funding coupled with reclaiming key technical levels, the market is likely to stay under pressure.
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Ethereum Wipes Out 7 Years of Gains in Crash to $1,400, Where Next for ETH?
