The Chainlink (LINK) price has been sliding for a few days now, and it finally looks like this downtrend is reaching an important moment.
LINK has been sliding toward a key support level, and traders are watching to see if this is where the selling finally slows down.
Even though the chart looks weak right now, confidence in the project is still high. Many analysts think the LINK price can perform well over the long run.
Key Support Level and Analyst Outlook
According to analyst DevKhabib, the area around $12.67 is the key level to watch. It has acted as a major reaction point in past cycles, and the chart shows LINK dipping right back into that same zone again.
If Chainlink price retests this support and holds, it could be the first sign that LINK is ready for a fresh move upward. DevKhabib sees this as a reasonable spot for long-term buyers to pay attention, with the option to add more if the market offers a slightly deeper dip first.
Chart Analysis and Potential Scenarios
Zooming out, the chart shows a steady run of lower highs pushing LINK down toward support. But the bigger picture is more encouraging.
The LINK price has a strong history of bouncing from levels like this and often turns a slow pullback into a sharp reversal once momentum shifts.
The chart shared by DevKhabib outlines a possible path where price rebounds from $12.67, settles for a bit, and then climbs toward the mid-range zone near $17. If momentum builds, the next target sits around $20.
For now, everything depends on how the LINK price behaves as it taps this support zone. A clean bounce and steady buying would help set up the next pump, especially if the overall market starts to stabilize.
On the other hand, if price dips through support, traders might wait for a deeper retest before stepping back in.
Long-Term Potential and Market Performance
Chainlink (LINK) has been one of the strongest top-cap altcoins for many consecutive months, and this setup suggests that another big move isn’t that far away. Provided support at $12.67 remains intact, the next rally could easily commence right from here.