{"id":621748,"date":"2025-01-27T07:56:39","date_gmt":"2025-01-27T07:56:39","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=621748"},"modified":"2025-01-27T10:54:01","modified_gmt":"2025-01-27T10:54:01","slug":"chainlink-price-prediction-link-plunges-6-as-traders-shift-focus-to-this-crypto-wallet-token-offering-a-213-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/chainlink-price-prediction-link-plunges-6-as-traders-shift-focus-to-this-crypto-wallet-token-offering-a-213-staking-apy","title":{"rendered":"Chainlink Price Prediction: LINK Plunges 6% As Traders Shift Focus To This Crypto Wallet Token Offering A 213% Staking APY"},"content":{"rendered":"

The Chainlink price plunged 6% in the last 24 hours to trade at $23.80 as of 11:17 p.m. EST on trading volume that skyrocketed 62% to $912 million.<\/span><\/p>\n

Chainlink Price Poised For A Breakout<\/h2>\n

The <\/span>LINK price<\/span> has been experiencing<\/a> significant price fluctuations, reflecting an interplay of bullish and bearish sentiments.<\/span><\/p>\n

On the daily chart, LINK has shown resilience, rallying from its lows near $11.50 to recent highs above $27.50. This movement marks a clear bullish trend in the medium term. <\/span><\/p>\n

However, after touching resistance near $27.50, the Chainlink price has pulled back to its current level of $23.80, and trading within the sideways pattern, according to <\/span>GeckoTerminal<\/span><\/a> data.<\/span><\/p>\n

Despite the pullback, the price of Chainlink is still well above both the 50-day and 200-day Simple Moving Averages (SMAs), which suggests bullish momentum.<\/span><\/p>\n

The Relative Strength Index (RSI) is at 51.06, placing it in the neutral zone. This indicates that neither buyers nor sellers currently dominate the market, leaving room for further price consolidation or trend continuation depending on momentum shifts.<\/span><\/p>\n

Meanwhile, the Moving Average Convergence Divergence (MACD) shows signs of bullish sentiment for the price of LINK, as the blue MACD line crosses below the orange signal line.<\/span><\/p>\n

\"Chainlink
LINK\/USDT Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

LINK At A Critical Juncture<\/h2>\n

The LINK price is at a critical juncture, consolidating within the $19.75 and 27.22 defined range.<\/span><\/p>\n

If the price of Chainlink holds above the 50-day SMA ($23.58) and the $20-$22 support zone, a retest of the $27.22 resistance is likely. Breaking this level could open the door for a move toward $30 or higher in the medium term.<\/span><\/p>\n

A breakdown below $23.58 or sustained selling pressure at the $27.50 resistance could lead to a retest of the $20-$22 demand zone. A breach of this zone may result in a deeper correction toward the 200-day SMA at $15.50.<\/span><\/p>\n

In the meantime, investors are flocking to the presale for <\/span>Best Wallet (BEST)<\/span><\/a>, which according to ClayBro, a popular YouTuber with over 135K subscribers, is one of the best wallets of 2025.<\/span><\/p>\n