Amid ongoing market volatility, Chainlink’s native token LINK is facing the possibility of a significant price decline in the near future. A well-known crypto expert recently took to social media platform X (formerly Twitter) on April 10, 2025, to share insights on LINK’s potential trajectory, suggesting that the token could drop to $7.50 based on current price action.
The expert highlighted that LINK is currently retesting a crucial ascending trendline that has been in place since June 2023. The validity of this prediction hinges on whether the LINK price remains below the trendline, as a break above it could invalidate the downward projection.
As of the latest data, LINK is trading around $11.95, reflecting a decline of over 6% in the past 24 hours. The trading volume has also decreased by 40% during the same period, indicating reduced participation from traders and investors. This drop in trading volume may be attributed to the sharp price fluctuations experienced by LINK holders and traders recently.
CoinPedia’s technical analysis reveals that LINK has been following a downtrend within a falling wedge pattern. The price has encountered resistance at the upper boundary of the pattern and is now heading towards the lower boundary. With prevailing bearish market sentiment, a downward momentum is anticipated in the days ahead.
If LINK fails to break above the $13.25 level, there is a high likelihood of a 20% drop to $9.50. Further downside could see LINK testing support at $7.50 if the price closes below the $9.50 level on a daily candle. Conversely, a breakout above $13.25 could trigger a substantial 35% rally in the near term.
In conclusion, LINK’s price outlook remains uncertain as it navigates through volatile market conditions. Traders and investors are advised to closely monitor key levels and price action to make informed decisions amidst the evolving crypto landscape.