Chainlink Dips Below Key Support: What’s Next for LINK Price?

Chainlink (LINK) is currently experiencing significant bearish pressure, having dropped below crucial support levels. As the broader crypto market dips, particularly with Bitcoin falling beneath $90,000, LINK investors are closely monitoring potential recovery indicators and market dynamics that could influence future price movements.

Key Takeaways

Chainlink’s price is struggling, having recently broken below the pivotal support level of $13.91.
The next support zones are projected around $12.00-$13.00, with a critical level at $10.11.
Resistance is evident in the $16.89-$19.00 range, which LINK may find difficult to surpass in the near term.
A decline in futures open interest has been observed alongside falling prices, indicating reduced trader confidence.
Future price movements will depend on various factors, including Bitcoin’s stability, overall market conditions, and LINK-specific news or developments.

Chainlink Price Struggles to Maintain Key Support

Technical Levels Indicate Downward Trends

The weekly chart for Chainlink indicates ongoing bearish sentiment, as the token has struggled to maintain key support levels. According to Fibonacci retracement analysis, LINK tested the support at the 0.786 level ($13.91) but has since fallen below it.

Should LINK fail to recover and maintain this support point, it could drop further into the $12.00-$13.00 range. The next significant support is found at the 1.0 Fibonacci level, clocking in at $10.11, a critical zone if current levels can't hold.

In the resistance category, the range between $16.89 and $19.00 appears to be a notable hurdle for LINK in the short term. A break above these levels might hint at a potential bullish recovery.

Momentum indicators reinforce this bearish outlook, with the MACD line sitting below the signal line and both indicators residing in negative territory. Moreover, the histogram, remaining in the red, implies ongoing selling pressure within the market.

Chainlink Futures Open Interest Highlights Weakness

An analysis of the Chainlink Futures Open Interest chart reveals a noteworthy relationship between LINK's price movements and the open interest in futures contracts over recent months. Open interest has shown a consistent rise in futures activity whenever the LINK price climbs.

From June to August 2025, there was a marked increase in open interest, peaking in August when LINK's price surpassed $25. However, as open interest began to decline in late August through September, the price retraced as well.

This observable correlation suggests that lower futures activity may hinder LINK's potential for upside until participation stabilizes or begins to rise once more. A decreasing open interest often reflects waning trader conviction regarding short-term price direction.

Chainlink's ability to recover will depend on several aspects, including Bitcoin's capability to maintain stability above $90,000, overall market conditions within the cryptocurrency sector, and developments specific to LINK, such as new partnerships or metrics reflecting network adoption.