Tony Kim
Jan 21, 2026 16:41
Chainlink trades at $12.09 with bearish momentum as LINK tests lower Bollinger Band support. Critical $11.70 level holds key to preventing deeper correction toward $10.50.
Chainlink (LINK) is facing significant selling pressure as the token trades at $12.09, down 2.10% in the past 24 hours. With bearish technical indicators mounting and the price approaching critical support levels, LINK price prediction models suggest a challenging period ahead for the oracle token.
LINK Price Prediction Summary
• Short-term target (1 week): $11.70-$12.40
• Medium-term forecast (1 month): $10.50-$13.50 range
• Bullish breakout level: $12.74
• Critical support: $11.70
What Crypto Analysts Are Saying About Chainlink
Recent analyst commentary provides mixed signals for Chainlink’s near-term outlook. Peter Zhang noted on January 15 that “LINK trades at $13.93 with bullish MACD momentum suggesting potential rally to $15.50-$16.50 range over next 4-6 weeks,” though this analysis preceded the current bearish technical deterioration.
Zach Anderson’s January 17 forecast outlined “Short-term target (1 week): $14.50-$15.00; Medium-term forecast (1 month): $15.50-$16.50 range; Bullish breakout level: $14.52; Critical support: $13.23.” However, LINK has since broken below Anderson’s critical support level, invalidating the bullish thesis.
While specific analyst predictions have become outdated due to rapid price action, on-chain metrics suggest continued selling pressure as LINK approaches oversold conditions.
LINK Technical Analysis Breakdown
The technical picture for Chainlink has deteriorated significantly over the past week. The RSI reading of 35.97 indicates the token is approaching oversold territory but hasn’t yet reached extreme levels that typically signal a bounce.
MACD analysis reveals bearish momentum with the histogram at 0.0000 and both MACD lines in negative territory at -0.0889. This confirms the current downtrend lacks any bullish divergence that might suggest an imminent reversal.
Bollinger Bands analysis shows LINK trading near the lower band at $12.26, with a %B position of -0.08 indicating the price has pierced below the lower band. This suggests either continued selling pressure or potential mean reversion back toward the middle band at $13.35.
The stochastic oscillator reading of %K at 2.53 and %D at 2.03 indicates severely oversold conditions, which could trigger a short-term bounce if buyers emerge at current levels.
Chainlink Price Targets: Bull vs Bear Case
Bullish Scenario
For LINK price prediction models to turn bullish, the token must reclaim the immediate resistance at $12.42 and subsequently break through strong resistance at $12.74. A successful breakout above $12.74 could target the 20-day SMA at $13.35, followed by the 7-day SMA at $13.10.
In an optimistic Chainlink forecast, sustained buying pressure could drive LINK toward the upper Bollinger Band at $14.44, representing a 19% upside from current levels. However, this scenario requires significant volume and fundamental catalysts to overcome the current bearish momentum.
Bearish Scenario
The bearish case for LINK centers on a breakdown below the critical support at $11.70. Such a move would likely trigger stop-losses and accelerate selling toward the next major support zone around $10.50-$11.00.
Given that LINK trades below all major moving averages except the 50-day SMA at $13.15, continued weakness could see the token test the psychological $10.00 level. The 200-day SMA at $17.58 remains far above current prices, highlighting the severity of the current correction.
Should You Buy LINK? Entry Strategy
Current market conditions suggest a cautious approach to LINK accumulation. Conservative traders should wait for a clear bounce from the $11.70 support level before considering entry positions.
For aggressive buyers, dollar-cost averaging between $11.70 and $12.00 could provide attractive entry points, with stop-losses placed below $11.50 to limit downside risk. The current oversold stochastic reading supports this tactical approach.
Risk management remains crucial given the bearish momentum. Position sizes should be reduced until LINK demonstrates clear support holding and RSI begins showing bullish divergence.
Conclusion
The LINK price prediction outlook remains challenging in the near term, with technical indicators suggesting further downside risk toward $11.70 and potentially $10.50. While oversold conditions may trigger short-term bounces, the Chainlink forecast requires significant technical repair before sustainable upward momentum can emerge.
Traders should monitor the $11.70 support level closely, as its defense or breakdown will determine whether LINK consolidates in the $11.70-$12.74 range or extends losses toward $10.50. The current bearish momentum suggests patience is warranted before establishing significant long positions.
Disclaimer: Cryptocurrency price predictions are speculative and subject to high volatility. This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and consider your risk tolerance before trading.
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Source: https://blockchain.news/news/20260121-price-prediction-target-link-testing-critical-support-at-1170-as
