Chainlink at a Key Level: Breakdown Risk or Rebound Opportunity?

[ed]

LINK/USDT daily chart. Source: Cointelegraph/TradingView

Chainlink is showing signs of weakness after failing to hold above $9.50, with sellers stepping in on every rally. The recent drop below the ascending channel support suggests growing bearish pressure, and a confirmed breakdown could push LINK toward $8.05 or even $7.15.

However, bulls still have a chance to regain control. If buyers manage to push the price back above $9.50 and reclaim the channel, it could signal a recovery. In that scenario, LINK may attempt a move toward the upper resistance line — making this a crucial moment for the token’s short-term direction.

[cryptohog]

the repeated rejection at $9.50 suggests strong supply overhead, making it a key level for sentiment shift