Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

Bitcoin Price Could Break ATH in 7 Days, Here’s What the Data Reveals

July 9, 2025

New Zealand to ban crypto ATMs in AML crackdown

July 9, 2025

Atua AI Builds Automated Data Pathways for Intelligent Web3 Execution

July 9, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Will Chainlink drop 17% amid tariff tensions? Mapping the road ahead

0
By Aggregated - see source on July 9, 2025 Altcoin
Share
Facebook Twitter LinkedIn Pinterest Email
  • Chainlink’s on-chain data reveals that traders are leaning heavily on the short side.
  • If LINK breaks below $12.70, it could face a potential 17% decline.

Escalating tariff tensions have put Chainlink [LINK] over the edge. The asset has struggled to gain momentum over the past week, and traders’ recent bearish outlook keeps things unfavorable for LINK.

Traders show interest in shorting LINK 

As of the 8th of July, traders appeared to have a bearish market outlook, betting heavily, per on-chain analytics tool CoinGlass.

Traders were over-leveraged at $12.99 on the lower side (support) and $13.83 on the upper side, levels where strong interest has been observed.

LINK Exchange Liquidation Map

Source: CoinGlass

On-chain data showed that traders have built $5.87 million worth of long positions and $8.64 million worth of short positions. Thus, LINK was currently bearish and looked poised for a price drop.

In addition, LINK’s Long/Short Ratio stood at 0.935. 48.32% of traders were betting on long positions, while 51.68% were positioned short at press time.

LINK Long/Short Ratio ChartLINK Long/Short Ratio Chart

Source: CoinGlass

Current price momentum 

At press time, LINK was trading near $13.49, having recorded a modest price dip of over 0.55% in the past 24 hours.

This price drop amid tariff tension has not only reinforced the bearish outlook among traders but has also reduced investor and trader participation.

Data from CoinMarketCap revealed that LINK’s trading volume over the past 24 hours has dropped by 12% compared to the previous day.

Chainlink: Key levels to watch 

AMBCrypto’s technical analysis revealed that LINK was at a make-or-break point at press time.

For over two weeks, the asset has been consolidating within a tight range and has now reached a key resistance level, formed by a descending trendline.

Chainlink (LINK) technical analysisChainlink (LINK) technical analysis

Source: TradingView

Historically, whenever the price has reached this level, it has faced rejection and recorded a decline. This marks the fourth time the asset has tested this resistance.

Potential upcoming levels for LINK token 

If market sentiment remains unchanged and the price drops below the $12.70 level, a potential 17% decline could follow.

On the other hand, if sentiment shifts and the price breaks above this prolonged resistance and closes a daily candle above the trendline, it could open the path for a strong upside rally.

At press time, LINK is trading below the 200-day Exponential Moving Average (EMA) on the daily time frame, indicating that the asset is in a downtrend.

This trend could only reverse if the price breaks above the 200 EMA and the $16 resistance level.

Next: XRP breaks out! – But will $2.33 hold, if so, what next?

Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Price Could Break ATH in 7 Days, Here’s What the Data Reveals

July 9, 2025

New Zealand Bans Crypto ATMs to Combat Money Laundering

July 9, 2025

Donald Trump to Hit 7 Nations With Tariffs on Aug 1st, Will Crypto Market Crash?

July 9, 2025
Leave A Reply Cancel Reply

What's New Here!

Bitcoin Price Could Break ATH in 7 Days, Here’s What the Data Reveals

July 9, 2025

New Zealand to ban crypto ATMs in AML crackdown

July 9, 2025

Atua AI Builds Automated Data Pathways for Intelligent Web3 Execution

July 9, 2025

New Zealand Bans Crypto ATMs to Combat Money Laundering

July 9, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.