Chainlink Price Poised For Another Drop

The Chainlink price correction could extend another 10% before challenging key support at $7.7, with the U.S unemployment rate ticking down from 4.4% to 4.3%, indicating gradual labor market improvement.

Chainlink Price Analysis

The momentum indicator RSI (Relative Strength Index) at 45% reflects an intact bearish momentum in current price trajectory. LINK, the native cryptocurrency of decentralized Oracle network, Chainlink, shows a slight uptick of 0.8% to trade at $8.69.

Key Statistics

• LINK Whale Wallets Hit 125 as accumulation grows, with a 25% increase in the last year.
• The unemployment rate decreased to 4.3% in March as compared to 4.4% in February.

Chainlink Whales Accumulation

Chainlink whales with over one million LINK tokens grew by 25 percent in the last year, as Santiment data shows. On April 2, 2025, there were 100 wallets in this threshold and currently the number stood at 125.

Price Movement

The price movement was a volatile one with red and green bars as the market fell into a larger decline. The statistics indicate that large holders were still accumulating despite the Bitcoin and the crypto market remaining in a bear cycle.

Chainlink Price Prediction

Earlier today, the Chainlink price attempted a bullish breakout from the 20-day exponential moving average and marked an intraday high of $8.81. However, the overall supply hit the market immediately and dragged the LINK price to $8.67 mark, forming a long-wick rejection candle in the daily chart.

Key Takeaways

• The Chainlink price correction could extend another 10% before challenging key support at $7.7.
• LINK Whale Wallets Hit 125 as accumulation grows, with a 25% increase in the last year.
• The unemployment rate decreased to 4.3% in March as compared to 4.4% in February.
• A breakout from the $10 resistance would intensify the buying pressure and push LINK to $11.7 mark.

Frequently Asked Questions

What is the current Chainlink price?

The current Chainlink price is $8.69, with a slight uptick of 0.8%.

Will the Chainlink price drop further?

The Chainlink price correction could extend another 10% before challenging key support at $7.7, depending on market conditions and investor sentiment.