- Chainlink has broken a critical long-term ascending support trendline, shifting the technical outlook to bearish.
- Current price hovers around $12.63, with immediate downside targets at $9.96 and $7.73–$8.
- Broader altcoin weakness and lack of rebound signals amplify risks of deeper correction.
Prominent crypto chartist Ali Martinez, known as @alicharts on X, has issued a stark warning for Chainlink (LINK) holders. In a recent post, Martinez pointed to the token’s decisive break below a key multi-year ascending support trendline on the daily chart, declaring, “Next stop: $8.”
The accompanying chart illustrates a once-reliable upward-sloping trendline that originated from lower levels in 2024 and provided support through much of 2025. However, crypto recent price action has seen LINK plunge below this line, closing around $12.63 as of mid-December 2025. Marked levels on the chart suggest sequential downside targets: first $9.96, followed by $7.73, aligning with Martinez’s $8 projection.
Sequential Downside Targets: $9.96 to $8
This breakdown comes amid a challenging period for altcoins, with Chainlink mirroring broader market weakness. LINK trades in the $12–$13 range, down from recent highs above $14. Technical indicators reinforce the bearish bias—RSI readings near oversold territory (~35) indicate exhaustion, but without strong volume on rebounds, sellers remain in control.
Chainlink’s fundamentals remain robust as the leading decentralized oracle network, powering data feeds for DeFi protocols and enabling cross-chain interoperability via CCIP. The platform has facilitated trillions in transaction value across blockchains. Yet, short-term price action often decouples from fundamentals during risk-off phases in crypto markets.
Fundamentals: Oracle Strength Amid Altcoin Pain
Analysts note that a failed retest of the broken trendline could accelerate selling pressure. Conversely, a bounce from lower supports might attract dip-buyers, especially if Bitcoin stabilizes. Community reactions to Martinez’s post vary, with some anticipating a rebound near $10–$11, while others brace for further declines.
For traders, this setup highlights elevated downside risk. Position sizing and stop-losses are crucial, whether holding long-term or considering short opportunities. Chainlink’s utility in real-world asset tokenization and institutional adoption could drive recovery in 2026, but technical damage suggests caution in the near term.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
