LINK declines toward $8.74 support with MACD confirming persistent selling pressure: weekly forecast

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Chainlink drops 8.72% this week

Highlights

Chainlink remains in a confirmed medium- and long-term downtrend, trading below major moving averages with persistent bearish momentum.
All primary weekly momentum indicators signal a strong sell, while sellers have maintained dominance despite minor buyer activity.
Anticipated trading range for the next week is $8.74 to $8.93, with a further decline more likely than a rebound.

Institutional adoption grows as whale accumulation surges during the week

Chainlink reported a significant rise in whale accumulation, with addresses holding at least 100,000 LINK reaching a record high of 805. The network's CCIP protocol was selected by the Depository Trust and Clearing Corporation as the automation layer for its new Collateral AppChain, while key services such as Data Feeds and Proof of Reserve have launched on the AWS Marketplace. Additional developments include securing over $100 billion in DeFi and cross-chain value, triple compliance certification, and institutional integrations with the Bank of England, UBS, and the U.S. Department of Commerce.

Bearish technical signals dominate as sellers control weekly trade

Weekly technical analysis shows Chainlink trading well beneath its key moving averages, with the MA-20 now acting as immediate resistance at $9.42. Support lies near $8.74, with initial resistance at $8.93. Weekly RSI remains in bearish territory, while MACD and ADX both reinforce strong selling pressure and persistent downtrend; Stochastic RSI and CCI provide no indication of an imminent rebound. Despite minor buyer activity revealed by Bull/Bear Power, overall sentiment remains subdued, with sellers dominating the weekly action.

Range-bound action likely as indicators favor continued downside risk

Over the next 7 days, Chainlink is likely to trade within a narrow corridor between $8.74 and $8.93, mirroring the latest weekly volatility patterns. There is less than a 20% chance of a sustained upward move, as none of the four major weekly indicators signal a Buy. The baseline scenario sees LINK consolidating near current lows in a sideways pattern. An upside break above $8.93 may trigger a short-term bounce, but continued declines below $8.74 would reinforce the bearish trend and could lead to new lows.

Viktoras Karapetjanc, expert at Traders Union, notes that despite Chainlink’s recent 8.72% decline and negative technical momentum, the underlying fundamentals present a dynamic backdrop. He highlights increased institutional integration, record whale accumulation, and advancements with CCIP and AWS integrations as strong building blocks for future growth. Karapetjanc believes the consolidation phase near $8.84 reflects a market that is recalibrating before its next major move. Continued dominance by sellers is apparent this week, yet he sees opportunity emerging as adoption strengthens and confidence gradually returns. "With such robust progress in institutional partnerships and technology, I expect Chainlink to attract renewed buying interest — any rebound above $8.93 could quickly spark momentum as macro and fundamental drivers align."

Earlier, analysts noted that Chainlink faced sustained bearish momentum despite institutional adoption and growing network integrations. The latest technical signals and persistent downside pressure reaffirm a cautious outlook, with traders urged to watch for a decisive move beneath the $8.74 support as a potential catalyst for further declines.

Source of Data: LINK Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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