Chainlink Crumbles: Bears Target LINK at $7.40

Chainlink's LINK has entered a critical phase after losing its key support level at $8.38, confirming a bearish break below a long-standing rising trendline that previously supported higher prices.

The move has shifted momentum away from buyers and handed control back to the bears, with current price action pointing toward several downside objectives, including targets around $7.87, $7.67, and $7.40.

Unless bulls quickly reclaim lost ground, the technical picture suggests further downside could follow, making proper risk management essential in this volatile market.