• Chainlink is holding firm above the $15.0–$15.2 support zone, signaling potential for a short-term rebound.
• A sustained move above the 9-day EMA could propel LINK toward the $15.7–$16.0 target range.
• RSI and MACD indicators show short-term bearish momentum, but buyers defending support may spark a recovery.

Chainlink (LINK) is showing resilience, as a key support zone is being retested, which could signal the emergence of a rebound. Price action currently indicates that the bulls are defending a key level that acted previously as resistance; holding this support can trigger a short-term recovery and open the way toward higher targets.

At the time of writing, LINK is trading at $15.32, with a 24-hour trading volume of $954.62 million and a market capitalization of $10.67 billion. The token’s price has seen a slight 1.99% drop over the last 24 hours, but key signals suggest that momentum could shift soon.

Chainlink Holds Crucial Support Zone

A well-known crypto analyst, Alpha Crypto Signal, highlighted that Chainlink is retesting its horizontal support zone as it was rejected by a short-term downtrend line. The area of $15.0–$15.2 is an important level because it used to be strong resistance, which by now has turned into an important support zone.

This will set the stage for a bounce into the range of $15.7-$16.0, provided LINK continues to hold above this range and maintains strength above the 9-day EMA. This would mean that renewed confidence has settled among participants for an upward move.

A valid break below the support zone would invalidate the current setup and could trigger a more profound pullback. The market is, for now, paying close attention to this level-as long as it holds, it would create a strong chance for a recovery.

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Chainlink Slides as Momentum Turns Bearish

The RSI is at 42.29, which is a decline from the neutral zone, indicating that the sellers are starting to control the action. The MA Ribbon lines at 19.77, 18.39, 16.50, and 12.71 are showing LINK trading below most of the moving averages, suggesting downward momentum. This setup reflects growing weakness unless buyers push prices back above the 50-day MA.

The MACD reflects a clear bearish crossover, as the MACD line at –0.80 moved below the signal line at 0.29, while the histogram deepened in red. This evidences strong selling momentum and fading bullish strength. Unless the MACD curve turns upward, LINK could remain under the pressure of selling in the short term.

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