Chainlink Struggles at Gann Arc Support as Market Awaits Direction
Chainlink is testing crucial Gann arc support near $17 amid renewed selling pressure while analysts await market direction.Summary
Chainlink (LINK) is currently testing a significant Gann arc support level on the weekly chart near $17, a zone where multiple angles intersect and previously supported bullish reversals, according to analyst Cantonese Cat. This analyst suggests the current structure resembles accumulation phases and projects a major inflection point for mid-2026, with potential upside targets between $34 and $88 if support holds. Conversely, analyst Jesse Olson noted that his earlier bullish targets were not fully met, as LINK failed to break the $32–$36 resistance range, leading to renewed selling pressure. Currently trading around $16.96 after a 6.65% drop, LINK faces immediate support at $16.50–$16.70; a break below this could lead to further losses toward $15.80. The market awaits confirmation on whether buyers can defend the long-term support structure.
(Source：Brave New Coin)