Will Chainlink drop 17% amid tariff tensions? Mapping the road ahead
2025-07-09 01:14:14
Main Idea
Chainlink (LINK) faces potential price decline due to bearish market sentiment and key resistance levels, with traders showing interest in shorting the asset.
Key Points
1. If LINK breaks below $12.70, it could face a potential 17% decline.
2. Traders have a bearish outlook, with $5.87 million in long positions and $8.64 million in short positions.
3. LINK's Long/Short Ratio stood at 0.935, with 51.68% of traders positioned short.
4. LINK is trading below the 200-day Exponential Moving Average (EMA), indicating a downtrend.
5. A reversal in trend would require LINK to break above the 200 EMA and key resistance levels.
Description
The recent tariff tension coincided with Chainlink's price struggles, further weakening investor sentiment.
$LINK
$13.988
+4.29%
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