The Chainlink (LINK) price has declined by 25% over the past month as bulls battle against downside pressure near $9.
The declines across the market could see LINK fall to support at $8 or lower, particularly as cryptocurrency’s top coins falter.
Despite this outlook, continued institutional validation as Chainlink cements its pivotal role in blockchain infrastructure means analysts are bullish on the LINK token.
Water Tower Research has highlighted the network’s potential in tokenized assets and onchain finance.
LINK’s price performance
Chainlink has witnessed a tough time in the market this February, with prices fluctuating lower following rejection around $12.
The token reached a low of $7.90 as a broader crypto market dip overwhelmed bulls across the sector, and remains weak despite a 14% spike on February 25.
As Bitcoin rose to near $70,000, Chainlink’s price jumped from around $8.40 to highs above $9.25.
But BTC is back below $68,000, and most altcoins have pared gains seen on the day, including LINK’s retreat to under $9.00.
On Friday, Feb. 27, the LINK token hovered below $8.85, down 3% on the day and at risk of extending losses.
LINK sits 63% below its 2025 peak around $27.87 and more than 83% down from its all-time high near $53.
Yet analysts are bullish on a Chainlink bounce, with the recent 14% intraday surge a signal of likely momentum amid real-world adoption.
Water Tower Research note on Chainlink potential
Water Tower Research highlights Chainlink Labs as essential infrastructure linking blockchains to real-world data for DeFi, stablecoins, tokenization, and prediction markets.
The firm notes that Chainlink has enabled over $28 trillion in transaction value as the leading oracle.
Key integrations include Swift, Euroclear, Mastercard, Fidelity, UBS, and top DeFi protocols, all of which have greatly strengthened the network’s moat.
Analysts at the research platform emphasize a massive tokenization market, estimated to explode by 2030, positions Chainlink as the network to capture the substantial value in onchain capital markets.
Traction puts LINK price in a potentially massive uptrend trajectory.
Chainlink price outlook
Analysts maintain a bullish stance on LINK price. If we see a rebound to year-to-date highs near $15, bulls could reclaim the psychological $20 level and eye recent peaks.
RSI recovery signals oversold divergence at 44, while the positive MACD after a recent crossover on the daily chart boosts this outlook.
In the short term, targets above $15 include key resistance turned support zone at $18-$20, and the August 2025 top around $27.
Tokenization tailwinds, institutional flows, and regulatory developments will complement macro-driven momentum to help bulls eye these levels.
However, while Chainlink ecosystem growth and other bullish factors may suffice for an uptick, the short-term picture also supports a potential downward flip.
The 200-day EMA is a key resistance line (currently around $13.84), and a rejection here could derail buyers.
Bulls failing to reclaim $10 or fresh losses from $8.80 as February comes to a close will exacerbate the downside momentum.
Primary support could be at $8.00-$7.80.
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