Chainlink Price Prediction for Today, January 12 – LINK Technical Analysis

Chainlink
(LINK)
remains
a
key
player
in
the
evolving
DeFi
space,
with
its
robust
oracle
network
and
growing
adoption.
As
a
critical
component
of
blockchain
infrastructure,
LINK’s
performance
is
closely
watched.
But
can
it
break
free
from
the
current
bearish
sentiment
and
retest
its
former
highs?

LINK
Key
Statistics

• 
  Current
  Price:
  $19
• 
  Market
  Cap:
  $12.5
  billion
• 
  Trading
  Volume
  (24h):
  $390
  million
• 
  Circulating
  Supply:
  638
  million
  LINK
• 
  Total
  Supply:
  1
  billion
  LINK
• 
  CoinMarketCap
  Ranking:
  #15

Chainlink
($LINK)
has
experienced
significant
price
fluctuations
over
the
past
30
and
7
days.
From
its
recent
highs,
$LINK
has
dropped
by
35.11%
and
19.07%,
respectively.
However,
from
its
recent
lows,
$LINK
has
rebounded
by
4.02%,
indicating
a
modest
recovery.

LINK/USD
Market

Key
Levels

• 
  
  Resistance:
  
  $21,
  $25,
  $30
• 
  
  Support:
  
  $18,
  $16,
  $13.5

The
LINK/USD
daily
chart
reveals
a
bearish
sentiment
as
the
price
trades
at
$19,
well
below
its
December
highs
of
$30.
The
chart’s
Bollinger
Bands
(BB)
indicate
decreased
volatility,
with
the
price
slipping
below
the
middle
band,
signaling
continued
downward
momentum.
Immediate
resistance
levels
are
identified
at
$21
(middle
BB
line),
$25,
and
$30.
A
successful
break
above
$21
could
pave
the
way
for
a
retest
of
$25
However,
failure
to
reclaim
this
level
may
reinforce
bearish
control,
keeping
prices
within
the
current
descending
channel.

On
the
downside,
support
levels
are
situated
at
$18,
$16.00
and
$13.5.
The
Relative
Strength
Index
(RSI)
at
41
suggests
bearish
momentum
but
shows
no
immediate
signs
of
oversold
conditions,
leaving
room
for
further
declines.
If
LINK/USD
breaches
the
$18
support
level,
it
could
potentially
target
$16.
Conversely,
a
rebound
from
this
area
might
trigger
a
corrective
move
toward
the
$21
resistance.
Traders
should
remain
cautious
in
the
current
bearish
market
and
watch
for
signs
of
RSI
divergence
for
potential
trend
reversals.

Can
LINK
Break
Free
from
the
Bearish
Shackles
and
Retest
$30?

Despite
the
current
bearish
market
sentiment,
LINK’s
fundamentals
suggest
a
potential
reversal
in
fortune.
With
its
robust
ecosystem
and
growing
adoption
in
the
decentralized
finance
(DeFi)
space,
LINK’s
utility
and
demand
are
increasing.
Chainlink’s
oracle
network
provides
critical
infrastructure
for
DeFi
applications,
and
its
partnerships
with
prominent
players
in
the
industry
further
solidify
its
position.
As
the
DeFi
space
continues
to
evolve,
LINK’s
value
proposition
is
likely
to
become
more
apparent,
potentially
driving
prices
higher.

Chainlink
Price:
More
Technical
Insights

From
a
technical
perspective,
a
retest
of
$30
is
not
out
of
the
question.
Although
the
current
price
action
is
bearish,
LINK
has
historically
shown
resilience
and
a
tendency
to
bounce
back
from
support
levels.
If
the
market
sentiment
shifts
and
buyers
regain
control,
a
push
toward
$30
could
be
on
the
cards.
However,
it’s
essential
to
acknowledge
the
current
bearish
trend
and
the
need
for
a
significant
catalyst
to
drive
prices
higher.
Nevertheless,
with
its
strong
fundamentals
and
growing
ecosystem,
LINK
is
an
intriguing
candidate
for
a
potential
reversal.

LINK/BTC
Performance
Insight

The
LINK/BTC
daily
chart
is
flashing
caution
signals,
with
prices
slipping
0.84%
to
0.0002118.
The
Bollinger
Bands
indicator
is
also
pointing
to
a
downturn,
with
the
upper
and
middle
bands
hovering
above
the
price
action
like
a
dark
cloud,
hinting
at
building
selling
pressure.
As
traders
navigate
this
uncertain
landscape,
they’ll
want
to
keep
a
sharp
eye
on
a
couple
of
key
levels.
The
immediate
support
at
0.0002028
is
a
critical
floor
that,
if
breached,
could
send
prices
tumbling
further.
On
the
flip
side,
the
resistance
at
0.0002278
–
which
just
so
happens
to
be
the
middle
band
of
the
Bollinger
Bands
–
is
a
ceiling
that,
if
shattered,
could
signal
a
bullish
resurgence.

SherifDefi,
a
crypto
analyst
with
111k
followers,
reassured
his
audience
that
despite
Chainlink’s
($LINK)
current
downtrend,
it
presents
a
great
entry
point
for
investors.
He
advised
zooming
out
and
recognizing
$LINK’s
history
of
weathering
market
storms,
with
its
fundamentals
remaining
strong
due
to
its
critical
role
in
providing
data
to
smart
contracts
across
DeFi,
NFTs,
and
gaming.
With
a
market
capitalization
of
$12.5
billion,
SherifDefi
expressed
confidence
in
$LINK’s
long-term
potential,
predicting
a
rebound
and
reclaim
of
$30,
recommending
it
as
a
long-term
hold.

$LINK
is
in
a
downtrend,
but
don’t
panic
this
is
a
great
entry
point!

Zoom
out,

$LINK
has
weathered
storms
before,
and
its
fundamentals
remain
rock
solid.

????????
Why
the
confidence?

@chainlink
is
the
backbone
of
Web3,
providing
critical
data
to
smart
contracts
across
DeFi,
NFTs,…

pic.twitter.com/pBQHkd4yyl

—
Sherif
|
DeFi
(@SherifDefi)

January
12,
2025

Alternatives
to
Chainlink

Chainlink’s
oracle
network
is
a
cornerstone
of
the
DeFi
ecosystem,
providing
critical
infrastructure
and
solidifying
its
position
through
key
partnerships.
Meanwhile,

Wall
Street
Pepe
($WEPE)
has
made
a
splashy
entrance,
raising
over
$46.5
million
during
its
presale.
While
its
reimagining
of
the
Pepe
the
Frog
meme
within
a
utility-driven
ecosystem
is
intriguing,
it
remains
to
be
seen
whether
this
project
will
live
up
to
its
hype.

At
its
core,
Wall
Street
Pepe
offers
an
exclusive
private
community
where
members
can
exchange
trading
insights,
supported
by
advanced
tools,
real-time
market
signals,
and
actionable
strategies.
While
its
growing
“WEPE
Army”
on
Twitter
and
staking
initiative
(with
over
4.7
billion
tokens
staked)
are
notable,
some
may
question
whether
this
momentum
is
sustainable.

Wall
Street
Pepe
(WEPE)
Sets
To
Compete
With
PEPE

With
its
innovative
approach,
dedicated
community,
and
impressive
debut,

Wall
Street
Pepe
is
certainly
a
project
worth
watching.
As
the
market
continues
to
evolve,
it
will
be
interesting
to
see
how
WEPE
navigates
the
landscape
and
capitalizes
on
its
momentum.

Visit
Wall
Street
Pepe.

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