Key Points
- Chainlink’s LINK has risen by nearly 3% and is now targeting the $25 level
- The market is recovering after a weak start to the week
LINK Recovers After Monday’s Drop
LINK, the native token of the Chainlink network, lost about 8% on Monday as markets opened the week in a downturn. That sell-off pushed LINK down to a low of $20.30 yesterday, but the token has since staged a modest recovery.
At the time of writing, LINK trades at $21.835 per token and could climb higher in the near term as the broader crypto market begins to rebound. Bitcoin earlier regained a higher range, while Ether, XRP, SOL, BNB and DOGE all showed positive moves in recent hours.
Chainlink remains one of the most widely used blockchain oracle networks in crypto and beyond, and LINK’s value could appreciate over the medium to long term.
LINK Eyes $25 as $20 Support Holds
The LINK/USD 4-hour chart has shown bearish performance after the token lost 8% over the past seven days. Momentum indicators remain tilted to the downside but are starting to show early signs of short-term recovery.
The MACD moved into bearish territory over the weekend, and the RSI at 36 still confirms short-term bearish bias.
If the downward pressure persists, LINK could retest the $20.30 low again within the next few hours. Failure to defend that level might push LINK below $20 for the first time since August 9.
Conversely, if the market recovery gains steam, LINK could surge toward the $23.89 trendline (TLQ) in the coming hours. A sustained upswing would likely put the token on course to reach $25 for the second time this month.