Over the past month, ChainLink (Link) has struggled under the weight of bear market sentiment. Assets are steadily declining in value, their prices falling below the main support levels.
The downtrend raised questions among investors about the potential rebound and the possibility that recent changes in network activity could indicate a potential recovery. As Link’s performance fell apart, some analysts stepped in to assess its trajectory and what would happen next.
Analyst Outlook on ChainLink
Famous cryptography analyst Ali recently shared his perspective on Chainlink’s current position. Emphasizing that the price of chain links will fall by around 40% over the past month, Ali focused on network contractions that could indicate a decline in activity.
He noted that Link’s MVRV ratio, a recent indicator of trader profitability, is a loss of 16%.
This drawdown is also reflected in the MVRV ratio, which tracks the profitability of traders. The person who bought it now #link Over the past 30 days, the average loss is -16%.
This is a historically marked level for selling exhaust points. https://t.co/wqhxohpqas
– Ali (@ali_charts) February 19, 2025
This metric, combined with observations of increased whale accumulation, suggests a complex picture in which short-term pain leads to long-term opportunities.
However, despite the general market situation, there are signs of new interest among key investors. Ant highlighted that the whales have gained more than $20 million in links in the last 24 hours, suggesting potential changes in emotions.
For a confirmed rebound, Ali suggested that the link should target $23.70 above $19. However, he also warned that deeper fixes could continue if Link fails to maintain current support near $15.50.
Link Projection
Another analyst known as Crypto Elite offered a more optimistic outlook. According to the elite, the long downtrend in chain links that began in 2021 has been broken recently, providing a foundation for future profits.
The elite has identified ambitious price targets for $53, $100 and even $144. This suggests that the current phase may represent an early stage of important upward movement.
ChainLink is gearing up for a massive move!
The downtrend since 2021 has finally broken, and we are holding it stronger than that.
Targets I often see: 1⃣$532⃣$1003⃣$144
Momentum is built. It has been adjusted to suit the following!$link #link #link $link pic.twitter.com/rvotnxisav
– @cryptooeltes (@cryptooelites) February 7, 2025
In particular, for ChainLink, the coming weeks are important to the links, as they are trying to stabilize and perhaps regain the lost ground. It’s worth looking into whether the links can retain key support levels, maintain whales’ interest and ultimately climb beyond the vital points of resistance
Special images created with Dall-E, TradingView chart
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