Chainlink’s LINK token is facing a crucial technical test after a sharp 24-hour selloff, while several analysts remain focused on longer-term upside targets. LINK initially touched $12.06 overnight but sellers took control and pushed the price toward fresh 24-hour lows near $11.31. The decline came as broader market pressure added fuel, with Kevin Warsh reviving September rate hike expectations and a 4 p.m. market flush accelerating liquidations.
According to market watchers, the $11.22 level is now the key support to monitor because the previous bullish move started from that area. Holding $11.22 could give buyers room to rebuild momentum, while a decisive loss could open the door to $11.07. Reclaiming $11.50 would be an early sign of improvement, and a move back above $12.06 would show that buyers have absorbed the recent selling.
Analyst Michael van de Poppe said LINK has started an uptrend against Bitcoin and identified 2,400 satoshis as the first target against BTC, which would put LINK above $20. Crypto Patel separately pointed to $11.73 as a bounce level after a breakout and retest, listing targets at $16, $31 and $100. Patel also cited a $200 target from Standard Chartered.
LINK currently trades near $11.38, below the 50-day moving average at $11.53 but above the 200-day moving average at $9.51. Near-term resistance sits at $11.53, with $11.82 to $12.50 as the next upside zone. Key support levels below the market are $10.46, $9.78 and $9.51.
