Chainlink tests $7.16 support, eyes $7.40 breakout to reverse slide

1 min

LINK stalls near $7.20. $7.16 holds. $7.40 is the pivot.

LINK trades around $7.20 after a -5% week. The next move hinges on $7.16 support and a $7.40 reclaim.

Price is range-bound. Immediate support sits at $7.16–$7.18. Resistance is clustered at $7.33–$7.43, with $7.40 the near-term pivot, per TradingView.

Whale wallets tick up. A tracker flagged 8K+ new LINK wallets in 5 days with price near local lows, per WhaleFactor.

Institutional tokenization work remains a tailwind. Chainlink’s role in tokenized finance continues to build, per Coinspeaker coverage.

Bull case Defend $7.16. Volume firms. Close above $7.43 opens $7.80–$8.00, per TradingView.
Base case Chop between $7.16–$7.43 for several sessions while awaiting a catalyst, per TradingView.
Bear case Daily close below $7.16 risks a move toward $6.80–$6.90 and weakens short-term sentiment, per TradingView.