Chainlink Slips Below $10 as Selling Pressure Continues

TheNewsCryptoОпубликовано 2026-02-09Обновлено 2026-02-09

Введение

Chainlink (LINK) has fallen below the key $10 support level, trading around $9.54 with a 3.12% decline in the past 24 hours. The drop marks its lowest price point since September 2024, with sellers dominating both spot and futures markets. LINK is down approximately 7.9% daily and 20% weekly, reflecting a strong bearish trend. Technical indicators reinforce the negative outlook. Price remains well below the 9-day and 21-day moving averages, while the RSI near 30 indicates oversold conditions. The MACD is below its signal line, and the ADX suggests a strengthening downtrend with sellers in control. Key support is now near $9.00, followed by $8.50. Any bounce attempts around $9.50–$10 have faced renewed selling pressure, with resistance expected in the $10.20–$10.50 range. The prevailing bearish momentum is likely to continue in the near term.

Chainlink (LINK) is trading around $9.54, dropping 3.12% in the past 24 hours as the broader trend remains weak. During the session, LINK moved between a low of $9.04 and a high of $9.88, showing short-term volatility without a clear breakout. The token’s market cap stands near $6.76 billion, while 24-hour trading volume is around $1.31 billion, indicating steady participation from traders despite the downtrend.

Chainlink fell below the $10 support level, touching the lowest price point seen since September 2024, as sellers dominated both spot and futures markets. LINK’s price was down around 7.9% on the daily chart and about 20% on weekly charts, showing a sharp downturn in recent sessions. Heavy sell-offs in both spot and futures markets have contributed to the decline, pushing LINK to test deeper support zones.

LINK Extends Bearish Trend as Sellers Maintain Control

On the daily chart, LINK remains in a bearish market structure that has been in place since it topped near the $14–$15 zone earlier this year. Price is trading well below both the 9-day and 21-day moving averages, which continue to slope downward, showing that sellers are still in control. The RSI is near the low-30s, which places LINK in oversold territory and indicates that momentum has been strongly negative.

Zooming in, the MACD is below its signal line, and the histogram remains in negative territory, confirming that downside pressure persists.

Meanwhile, ADX reading indicates a strengthening trend, with the negative directional index staying above the positive one, which supports the view that sellers remain in control.

When checking on the Chainlink’s next price direction, the recent bounce attempts near short-term support around $9.50–$10 have been met with renewed selling, signaling resistance and limited upside participation.

So, the immediate support lies near $9.00, which has acted as a recent floor followed by a lower support zone around $8.50. On the upside, resistance is seen near $10.20–$10.50, which aligns with the moving average area where price has been rejected in recent sessions. Until then, LINK’s price action suggests the prevailing bearish momentum is likely to remain in place.

Связанные с этим вопросы

QWhat is the current trading price of Chainlink (LINK) and what is its 24-hour performance?

AChainlink (LINK) is currently trading around $9.54, having dropped 3.12% in the past 24 hours.

QWhat key support level did Chainlink recently fall below, and what was significant about the price it touched?

AChainlink recently fell below the $10 support level, touching its lowest price point since September 2024.

QWhat do the technical indicators (RSI, MACD, ADX) suggest about the current market momentum for LINK?

AThe RSI is in the low-30s, indicating oversold conditions. The MACD is below its signal line with a negative histogram, confirming downside pressure. The ADX shows a strengthening trend with the negative directional index above the positive one, all suggesting sellers remain in control with strong bearish momentum.

QWhat are the identified immediate support and resistance levels for LINK's price?

AThe immediate support is near $9.00, with a lower support zone around $8.50. On the upside, resistance is seen near $10.20–$10.50, which aligns with the moving averages.

QWhat was the trading volume for LINK, and what does this indicate about market participation?

AThe 24-hour trading volume was around $1.31 billion, indicating steady participation from traders despite the prevailing downtrend.

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