Fun

Chainlink (LINK) On Standby: Bitcoin’s Next Move Holds The Key

News Feed - 2025-06-28 06:06:49

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Chainlink (LINK) ended its latest session in a holding pattern, with indecisive candles and choppy intraday action pointing to a lack of clear direction. Traders now look to Bitcoin’s next move for guidance; any meaningful shift in BTC dominance could quickly tilt LINK’s price action. Until the market leader shows its hand, LINK remains on standby, hovering near key support while waiting for a decisive cue. Falling Wedge Holds The Key To Chainlink Next Big Move


In a recent X post, CRYPTOWZRD provided an update on Chainlink’s daily technical outlook, noting that the daily candles for both LINK and LINKBTC closed indecisively. This indecision reflects uncertainty in the market as tradersawait clearer direction. The lack of a strong trend suggests a pause before the next significant move. Related Reading Chainlink Bears Push Toward $12.50 As Weekend Volatility Looms 5 days ago


The analyst highlighted that LINKBTC is currently forming a falling wedge pattern, which is generally considered a bullishformation, especially when it appears in oversold conditions. He stressed that a breakout from this wedge is essential for Chainlink to trigger the next impulsive move upward, signaling a potential shift in momentum. A descending trendline pattern | Source: CRYPTOWZRD on X


CRYPTOWZRD explained that this breakoutis more likely to occur once Bitcoin dominance begins to decline. As Bitcoin’s grip loosens, altcoins like LINK tend to gain strength and follow suit. Therefore, monitoring Bitcoin dominance will be key in anticipating LINK’s next move.


Regarding support levels, CRYPTOWZRD identified $12.50 as the critical next support target. A strong reversal from this point could ignite a rally toward the $16 resistance level or higher. This level will serve as a crucial testing ground for bullish momentum.


He concluded by mentioning that his focus remains on lower-timeframe charts to identify quick scalp opportunities. While the broader trend is developing, CRYPTOWZRD is looking to capitalize on shorter-term movements, keeping a close eye on price action and volatility. Choppy Intraday Action Keeps Bulls Cautious


Wrapping up the analysis, the analyst highlighted that LINK’s intraday chart remained sluggish and choppy, offering little in terms of clear directional bias. A possible retest of the $12.85 support level—or even a minor dip below it—could still present a bullish reversalopportunity, potentially paving the way for a push toward the $14.40 resistance target. Related Reading Chainlink Holders Set Record As 1-Yr MVRV Signals ‘Opportunity’ 1 day ago


However, the analystwarned that if Chainlink holds below the $12.85 level, it could slip into prolonged sideways movement. This uncertain behavior will likely hinge on Bitcoin’s overall market direction, which continues to heavily influence altcoin performance. With no clear trade setup currently in play, the analyst concluded that it’s best to remain patient for a cleaner structure to emerge before making any decisive moves. LINK trading at $13.03 on the 1D chart | Source: LINKUSDT onTradingview.com Featured image from Adobe Stock, chart from Tradingview.com

News Feed

Marcel Pechman9 hours agoSEC vs. Ripple: Huge win for cryptoOn this week’s episode of The Market Report, Cointelegraph’s resident expert discusses Ripple’s latest win against the SEC and what it means for the crypt
William Suberg9 hours agoBTC price bounces 3% post-Binance amid call for Bitcoin bulls to ‘step in’Bitcoin is due to spend some time ranging before an “impulse” move ensues, bullish BTC price analysis predicts.38
Crypto Economy Shaves $100 Billion, Digital Asset Markets Recover Some Losses
Crypto Economy Shaves $100 Billion, Digital Asset Markets Recover Some Losses Digital currency markets have dropped in value during the last two days as more tha
After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market
After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market On Saturday, members of the forum r/cryptocurrency discussed how the current
Tristan Greene2 hours agoVolatility Shares cancels ETH futures ETF launch, ‘didn’t see the opportunity at this point in time’The company’s co-founder and president, Justin Young, told Cointelegraph in an email th
Martin Young4 hours agoEthereum LSDFi sector grew nearly 60x since January in post-Shapella surge: CoinGeckoThe LSDFi sector’s total value locked has grown 5,870% since January as ETH holders seek better yields.852 Tot
Paraguayan Bitcoin Mining Companies Hurt by Power Rate Hikes of Over 50%
Paraguayan Bitcoin Mining Companies Hurt by Power Rate Hikes of Over 50% Paraguayan mining companies are taking a hit to their profitability due to the steep power fee hikes the go
Turner Wright1 hour agoCrypto ATM firm Bitcoin Depot will go public on Nasdaq starting July 3The special purpose acquisition company deal, first reported in August 2022, cost $885 million and is expected to allow investo
Bitmain’s Cofounder Accused of Hindering Next-Gen Bitcoin Mining Rig Shipments
Bitmain"s Cofounder Accused of Hindering Next-Gen Bitcoin Mining Rig ShipmentsOn June 11, 2020, regional reports disclosed that the cofounder of Bitmain, Micree Zhan, is still battl
Major Exchanges Experience Technical Issues as Bitcoin Price Drives in Massive Traffic
Major Exchanges Experience Technical Issues as Bitcoin Price Drives in Massive Traffic Bitcoin has finally broken the $20k resistance level. The record-breaking
Bitfarms Purchases 48,000 Bitcoin Miners, Plans to Increase Hashpower by 5 Exahash
Bitfarms Purchases 48,000 Bitcoin Miners, Plans to Increase Hashpower by 5 Exahash The publicly listed Canadian bitcoin mining operation Bitfarms has announced t
Tristan Greene6 hours agoComputer science experts say US should create new fed agency for AI: SurveyAccording to the 213 computer science professors surveyed, AI might not be as big of a displacer as the C-suite claims.7