Chainlink’s Price Slumps Below Support: Will it Reach $7.50?

Chainlink (LINK) is trading below its key breakout zone after experiencing a significant price drop. The token’s recent slide has seen it fall below the $12.00 level, signaling weakening performance in the market. Despite short-term volatility, technical analysis suggests LINK may be poised to revisit its previous high before continuing its downtrend. Analysts believe this downward pressure could potentially push the asset towards the $7.50 level if the current bearish momentum persists.