Chainlink Faces Challenges at Major Resistance Point – $10 Support Under Scrutiny Again

After a period characterized by strong buying momentum and optimistic market sentiment, Chainlink (LINK) is encountering a pivotal point. The asset could not overcome the $18 resistance barrier and has subsequently experienced a decline of over 16%, indicating a diminishing momentum. This recent downturn has raised alarms among traders and investors, heightening concerns regarding potential risks in the near future.

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Renowned crypto analyst Ali Martinez has provided a technical assessment suggesting a possible pullback toward lower demand thresholds. Martinez believes that the inability to surpass significant resistance may lead to increased selling, particularly in the context of uncertain broader market conditions. He indicates that LINK appears to be losing its upward momentum and may be on course to revisit lower support levels before any significant recovery occurs.

The current situation for Chainlink underscores a shift in market sentiment, wherein bullish traders find it challenging to maintain key price zones. Despite a relatively stable broader market, LINK’s failure to sustain higher price levels could hint at the early stages of a more significant correction if volume and momentum do not improve.

As volatility re-emerges in the altcoin sector, the upcoming days are crucial for Chainlink. Maintaining above interim support levels will be vital if bulls hope to regain market control and avert further price declines.

Chainlink Faces Challenges as Momentum Slips: Increased Downside Risks

Chainlink (LINK) is exhibiting signs of fatigue following weeks of upward trends, now facing mounting pressure as the market contends with renewed fluctuations and global economic uncertainty. Although bulls are attempting to defend essential demand areas and are advocating for a breakout, the waning momentum and rising fears are starting to impact overall sentiment.

The failure to breach the $18 resistance marked a significant pivot point. Consequently, Chainlink has experienced a drop exceeding 16%, losing crucial support levels and entering a precarious technical state. Martinez’s perspective suggests that this setback could signal the onset of a deeper corrective phase. His analysis indicates that LINK might be gearing up to revisit the $10 level, which acts as both a psychological and structural support area consistent with past price behavior.

The coming trading sessions are expected to be critical. If bulls are unable to reclaim higher levels or stabilize above $14, the selling momentum could amplify. Compounding the uncertainty is a general lack of clarity in global financial markets, where investors are closely monitoring central bank activities, inflation statistics, and geopolitical events for direction.

While some traders are still anticipating a rebound, the prevailing market structure suggests caution. The performance of Chainlink in the near future might either confirm a local peak or present a high-risk, high-reward opportunity if support holds and momentum is regained. In either scenario, the $10–$12 range is likely to be tested soon, and how LINK behaves in this zone will shape its forthcoming trajectory.

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