Critical support at $21 may decide next major move for LINK
Chainlink (LINK) has entered a decisive phase as the token tests a crucial support level near $21.50–$22.00 after a steady pullback from recent highs above $26. The market is now watching whether buyers can maintain control or if the asset risks a deeper correction.
On the daily chart, LINK is currently trading at $21.70, only slightly above its green support zone. This area has historically acted as a launchpad for bullish rebounds, making it one of the most important levels for traders. A sustained close below this range could trigger a move toward the next major support near $17.00, while a bounce would open the path back toward resistance at $24.50 and $26.00.
BITX Market experts suggest that the price action reflects growing caution. “Chainlink’s momentum has cooled after multiple rejections near $26. For bulls, holding the $21 zone is absolutely critical. If broken, sentiment may shift toward medium-term bearishness,” .
Volume trends also confirm investor hesitation, with lower trading activity compared to August’s sharp rallies. Still, LINK has managed to outperform several altcoins, showing resilience even during broader crypto market pullbacks.
According to BITX strategists, “We are seeing a defined range between $21 and $26. A breakout in either direction will likely set the tone for the coming weeks.”
For now, the outlook hinges on whether buyers can defend the current floor. Holding above $21 would strengthen confidence in a possible recovery, while losing this level could invite sellers to push the token toward deeper lows.
Chainlink’s position remains technically balanced, but its performance over the next few sessions will be crucial in determining whether it resumes its uptrend or slips further into consolidation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.