Chainlink Price Tests 2025 Lows as Bears Dominate, Will $12 Hold?
**Chainlink (LINK) Price Update: Why Did LINK Crash Despite Big News?**
Chainlink news has dominated headlines this week, but the token’s price action has left traders scratching their heads. The hit phrase “Why did Chainlink price dip so hard?” is trending, as LINK broke down from crucial levels despite major ecosystem developments.
Let’s unpack what’s happening, what the charts say, and where LINK could be headed next.
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**Chainlink’s Major Developments Overshadowed**
Two huge announcements set the crypto feeds alight:
– **Official rollout of Chainlink’s Cross-Chain Interoperability Protocol (CCIP)**
– **Launch of the Chainlink Runtime Environment (CRE)**
These advances should have fueled excitement and price gains. Instead, LINK’s price bucked the news-driven narrative.
Part of the reason? Bitcoin’s dominance surged above 60%, triggering a market-wide rotation as investors shifted funds out of altcoins—including Chainlink.
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**Market Sentiment: Extreme Fear Grips Traders**
The widely followed Crypto Fear & Greed Index now sits at a chilling 20, squarely in the “Extreme Fear” zone. As a result, searches for “Chainlink Crypto breakout” and similar queries are spiking, with traders on the hunt for direction amid the uncertainty.
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**Chainlink Price Analysis**
LINK price saw a sharp drop below the key support level of **$15.26 on November 4**, confirming a technical breakdown. Here’s what the charts and technicals reveal:
– **Descending Channel:** LINK is now locked in a clear downward trend.
– **Breakdown Triggers:** The swift fall invalidated short-term bullish structures and set off a wave of stop-losses.
– **Indicators Echo Weakness:**
– **MACD:** Prints below zero and its signal line at -1.03 vs. -0.90, highlighting ongoing bearish momentum.
– **4-hour RSI:** Hovers at 32.68, signaling oversold conditions but not yet showing signs of reversal.
**Current Snapshot:**
– **Price:** ~$14.90
– **24-hour Change:** -1.45%
– **7-day Change:** -16.53%
– **Trading Volume:** Exploded to $1.75 billion (+36.31% daily)
– **Daily Range:** $13.87 – $15.37
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**Key Levels to Watch**
– **Immediate Resistance:** $15.26
– **Next Major Resistance:** $16.61
– **Crucial Support:** $14.52
– If this level fails, a further drop to the **$12–$13 zone** is likely, matching 2024’s lowest price levels.
For now, stabilization will require daily closes above $15.00—only then can LINK begin forming a technical base in this region.
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**Conclusion**
Despite positive news from the Chainlink ecosystem, investors remain cautious amid broader market shifts. As Bitcoin’s dominance persists and fear keeps altcoins under pressure, traders should watch the key technical levels above for any signs of a LINK recovery.
Stay tuned for further updates as the situation develops.
https://coinpedia.org/price-analysis/chainlink-price-tests-2025-lows-as-bears-dominate-will-12-hold/
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