Chainlink Price Eyes $13.20 as Analysts Spot Rebound Signs

• LINK rebounded toward $13.00 after falling to $12.20, with resistance at $13.20 and support at $12.50 and $12.20.
• Analyst sees LINK’s performance against Bitcoin as a potential retest, suggesting a possible price low near current levels.
• Investor Jordan reentered LINK across three buy zones, while a positive MACD histogram signals improving momentum despite both MACD lines remaining below zero.

Chainlink (LINK) is attempting to recover after falling from above $15.50 in late September, with analysts Michael van de Poppe and Investor Jordan discussing its outlook. Van de Poppe views LINK’s performance against Bitcoin as a possible retest, while Jordan says he has bought back into LINK across three price zones. On Oct. 11, LINK traded at $12.853.

LINK Rebounds After Falling Toward $12.20

LINK declined from approximately $13.30 on Oct. 7 to around $12.20 on Oct. 9, before recovering toward $13.00. The drop followed a rally from roughly $10.70 in mid-September to above $15.50 around Sept. 29.

Source: TradingView

However, the recent series of lower highs shows that the earlier rally has lost momentum. LINK was down 0.15% on the latest four-hour candle on Binance, despite recovering from its October lows.

Immediate support sits near $12.50, followed by $12.20. If buyers defend those levels, LINK could revisit resistance between $13.00 and $13.20. A sustained move above that range could expose $13.50 and $14.00, while a breakdown below $12.20 could bring $12.00 into view.

Van de Poppe Sees a Possible LINK Low

Michael van de Poppe described the market correction as relatively harsh for LINK. However, he said LINK’s performance against Bitcoin looked more like a retest than a deeper deterioration.

Source: Michael van de Poppe

The analyst said he was watching for a possible bounce and a potential low around the current area. His assessment focuses on LINK’s relative performance against Bitcoin during the wider market decline.

Meanwhile, the four-hour Relative Strength Index stands at 40.85, slightly above its moving average of 40.72. Both readings remain below the neutral 50 level, although momentum has improved marginally.

Investor Jordan Reenters LINK Across Three Buy Zones

Investor Jordan said he had sold near $15 and subsequently invested a high five-figure amount into LINK across all three of his buy zones. He added that he still had capital available if his final entry level triggered.

https://twitter.com/InvestorJordan/status/2108633609670377650?s=20

The four-hour MACD histogram reads positive 0.049, with the MACD line at -0.154 and the signal line at -0.203. This suggests a bullish crossover attempt, although both lines remain below zero. Trading volume is at 78.4K, while a move above $13.20 remains important for the recovery attempt.