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Chainlink Eyes $8 After Breakdown Retest as Price Tracks Key Levels

Chainlink Eyes $8 After Breakdown Retest as Price Tracks Key Levels

CryptonewslandCryptonewsland2025/12/02 05:21
By:by Yusuf Islam
  • The chart shows LINK moving inside a wide rising channel while price drops toward the 0.618 level near the lower support zone.
  • The move suggests a retest of the breakdown point with the structure marking 11.27, 10.00, and 7.76 as the next levels.
  • The projection outlines a path that may lead toward 8 dollars as the dotted pattern signals a steady decline setup.

Chainlink is retesting a clear breakdown zone, as the chart shows price moving near the lower boundary of a long rising channel. The structure displays levels at 13.30, 11.27, and 10.00 with projections pointing toward 8.00 as the next major area. The dotted path marks potential steps that outline a steady decline toward the deeper support levels.

Price Returns to Breakdown Zone Within Long Channel Structure

The chart reveals LINK moving inside a large rising channel that has guided the price from mid-2023 to late 2025. This channel contains several parallel trend lines that act as support and resistance. The current move shows LINK testing the 0.618 retracement level near 13.30.

Price previously bounced inside the mid-channel region several times across 2024 and 2025. The new decline broke below that mid region and moved toward a lower boundary. This boundary forms the breakdown area that LINK now revisits.

Chainlink $LINK could be retesting the breakdown zone before a move toward $8. pic.twitter.com/cbG54rrsz6

— Ali (@ali_charts) December 1, 2025

The posted analysis states that LINK could be retesting the breakdown zone before a move toward 8.00. The chart supports that view through clear slope direction and retracement levels marked across the structure.

Mid-Range Levels Show a Sequential Decline Pattern

The Fibonacci zones on the chart display key figures along the downward path. The 0.618 level sits near 13.30, where LINK trades. The next major level noted on the chart is 11.27. Below that sits the 0.382 level near 10.00.

A dotted projection shows price moving between these zones before drifting lower. That path outlines potential consolidation as LINK reacts to mid-range structure points. A further decline points toward the 0.236 region near 7.76.

This level aligns with the comment that LINK could aim toward 8.00 after retesting the breakdown area. The dotted projection also shows sideways steps that reflect past reactions inside this channel.

The entire structure draws a consistent decline from upper channel resistance near levels above 20.00 toward the lower channel boundary. These moves follow earlier patterns that appear on the left side of the chart.

Channel Boundaries Mark the Deeper Levels in View

The lower boundary sits near the projected 7.76 region. This region forms a structural point where past reversals appear. The chart shows that LINK has bounced from similar slopes in earlier periods.

The chart also marks higher resistance areas, such as 17.00 and numbers above 20.00. These remain above the current path and are part of earlier swings in late 2024 and early 2025. The present trend is moving away from those regions.

A single key question emerges from the chart. Will LINK follow the dotted steps toward 8.00 after this breakdown retest?

The current candle sits near 13.30. The slope direction suggests continued pressure as LINK interacts with the breakdown area.

The visible levels on the chart provide a clear sequence of possible targets. The structure shows that each decline aligns with the long channel. The dotted projection reflects a controlled move that tracks the same pattern seen earlier.

The chart delivers a repeatable structure with defined boundaries. LINK remains inside that structure while price approaches noted lower levels.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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