Chainlink (LINK) prices continue to decline, approaching a key support area. Analysts discuss potential reasons for a price reversal.
Current Chainlink Trend
LINK prices have been declining since mid-March 2025. The daily chart shows a clear pattern of lower highs and lower lows. The price is now around $12.32, and this decline has been gradual, with low volatility, potentially indicating an accumulation phase near strong support levels.
Key LINK Price Levels
The $11–$12 range remains the first major support area, similar to when LINK started its previous rally in early May. If buyers step in again, the initial resistance level would be around $18.50–$19.00. Further resistance levels are located near $24.00–$25.00 and $30.00–$32.00.
Q3 Change Prospects
The analysis suggests a potential scenario for a reversal from support, followed by a breakout and an increase towards higher levels by late Q3. If volume and buying pressure return, a rounded bottom pattern may form.
Chainlink prices are in a watch zone, with the current $11 support area being a key level for traders looking for signs of trend changes.
