Technical analysis by BulletproofTraders about Symbol LINK: Sell recommendation (3/20/2025)

Chainlink (LINK/USD) remains in a strong downtrend after failing to break above key resistance at $14.45. Selling pressure continues to dominate, increasing the likelihood of a drop toward $11.582, a major support key-level. Read on for a full technical breakdown. Chainlink (LINK) continues to struggle under heavy bearish pressure, failing to reclaim the $14.45 resistance level. The rejection at this key level confirms the weakness in buying momentum, reinforcing the broader bearish structure. As of today [20.03.25], Chainlink is trading at $14.18, maintaining a bearish trajectory as sellers push prices lower. The immediate focus is on $11.582, the next key local support, which represents an important short-term profit target. A decisive break below this level will likely accelerate downside moves all the way toward $6.35, marking the previouse major low point from August 2024. Chainlink’s Vision & Market Position Despite the current bearish momentum, Chainlink remains one of the most influential blockchain projects, providing decentralized oracles that enhance smart contract functionality. Its role in enabling secure, real-world data feeds for blockchain applications remains a fundamental strength. However, short-term market sentiment continues to weigh heavily against LINK, increasing the probability of an extended corrective move before any potential recovery. Bearish Catalysts & Technical Breakdown Failure to Break Key Resistance: The rejection at $14.45 highlights weak buying momentum and reinforces the downside bias. Sustained Bearish Momentum: The price structure remains firmly bearish, with lower highs and lower lows signaling continued selling pressure. Break Below Local Support Imminent: If LINK fails to hold above $14.45, a rapid move toward $11.582 becomes highly probable. Extended Bearish Cycle in Play: Broader market sentiment suggests that Chainlink could remain under pressure unless buyers reclaim control above $14.45. Key Price Levels to Watch Major Resistance: $14.45 Current Price: $14.18 Local Support & Profit Target: $11.582 Major Bearish Target: $11.582 Stop-Loss Consideration: Above $16.037 Conclusion Chainlink’s failure to reclaim $14.45 signals a continuation of the current bearish trend, with $11.582 and even $6.35 as the next downside targets. Unless LINK can stage a significant recovery and break key resistance, sellers remain in control. Traders should monitor price action closely, particularly around $14.45, as a breakdown below this level will likely confirm further downside movement.Hitting primary profit target at $11.582! Case closed!