Three Things to Know
An investor named Jordan sees a possible double bottom on Chainlink and hopes for a run to $15 or higher.
LINK still trades under both of its main moving averages, and sellers lead the trend.
The nearest floor on the daily chart decides whether the pattern survives or breaks.
The call lands after a rough month for the token, with sellers still in charge. Traders want to know whether buyers can defend the latest low and push through the neckline.
A Double Bottom Sits Behind Jordan’s $15 Chainlink Call
Jordan said they hope LINK can climb to “$15 or higher” once the pattern plays out. The call came with no time frame.
A double bottom forms when a coin drops to a low, bounces, then falls back to roughly the same level and holds. Traders read that second hold as a sign that buyers are defending a base. Jordan’s view depends on that confirmation.
LINK traded near $10.61 at the time of writing. That puts the target about 41% above the current price, a long way for a sliding coin. Resistance and two key moving averages stand in the way.
The pattern also has a clear failure point. A break below the nearest support would erase the second bottom.
Chainlink Trades Under Both Averages as the Month Bleeds Lower
Chainlink (LINK) daily price with the nearest support (green) and resistance (red). Source: TradingView
LINK has lost about 18% over the past month. The past week added roughly 5% more in losses, so the selling has not let up.
The coin trades below its 50-day and 200-day moving averages, which smooth daily swings to show the trend. The 50-day sits near $11.71. The 200-day sits near $11.00. Both act as ceilings, so the broader trend still leans down.
So far, rallies have stalled before reaching those averages.
The 200-day is the closer and more telling test. A close back above it would be the first sign that the base is real.
Sellers Still Lead Even as the Day Goes Flat
LINK finished the past day flat. That calm looks like a pause in selling.
RSI, a 0 to 100 momentum gauge, sits near 40. That reading is weak but well above the oversold zone below 30. Sellers still have room to push price lower before the market looks stretched.
The MACD stays below its signal line, so momentum still points down. Trend strength readings show sellers leading a real trend.
Buyers have yet to show the force a confirmed bottom requires.
$9.75 Is the Floor the Pattern Cannot Lose
Support sits near $9.75. As long as LINK holds above it, the pattern stays intact. A close below that level would void the call.
The next support below lies near $8.16. A slide there would mark a fresh low, and sellers would keep control of the trend.
On the upside, resistance near $11.53 acts as the neckline. Bulls need a clean break above it to confirm the pattern.
The next ceiling waits near $12.71.
Which Way LINK Breaks Within Three Days
Over the next three days, two levels decide which way the chart resolves.
Bullish: A daily close above the neckline resistance would confirm the double bottom and open a path to the next ceiling. The setup fails if LINK slips back under its 200-day average after the breakout.
Bearish: A daily close below support would break the pattern and point toward the lower floor. That view fails if buyers reclaim the neckline, which would put the pattern back in play.
The Call Waits on One Confirmation
Jordan’s target becomes a working setup only after LINK clears the neckline.
Sellers still drive the trend, and a retested low often gives way under that kind of pressure.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
