Chainlink Trader Eyes $15, But a $9.75 Floor Has to Hold First

A trader going by Jordan has flagged a potential double bottom forming on Chainlink’s daily chart, attaching a price target of $15 or higher – roughly 41% above where LINK was sitting at $10.61 at the time of the call. The setup carries a hard condition: one support level either holds or the entire thesis collapses.

What Jordan’s Chart Setup Actually Says

A double bottom is one of the more straightforward patterns in technical analysis. Price drops to a low, recovers, then retreats to approximately the same level and holds. That second hold signals that buyers are defending a base rather than simply pausing on the way down. Jordan’s $15 target – offered without a specific time frame – depends entirely on whether that second hold sticks.

LINK has shed roughly 18% over the past month, with an additional 5% loss in the most recent week. The selling has been consistent, not clustered around a single event. That kind of steady pressure tends to leave coins below their key moving averages, and LINK is no exception – it trades beneath both its 50-day moving average, sitting near $11.71, and its 200-day moving average, sitting near $11.00.

Both averages are functioning as ceilings, not floors. Every rally attempt so far has stalled before price could reach either level. The 200-day at $11.00 is the more immediate test. A daily close back above it would be the first real evidence that buyers are gaining traction rather than just absorbing temporary selling pressure.

The neckline of the pattern – the resistance point that separates an unconfirmed base from a working breakout – sits near $11.53. Bulls need a clean daily close above that level to put the pattern on confirmed footing. After that, the next ceiling waits near $12.71, well before Jordan’s $15 target comes into range.

The Floor at $9.75 and What Happens if It Breaks

Support near $9.75 is the specific level the double bottom cannot lose. As long as LINK holds above it, the pattern technically remains intact. A daily close below $9.75 would void the second bottom, eliminate the setup Jordan is watching, and hand momentum back to sellers with no ambiguity.

The drop below $9.75 would not simply be a minor chart failure. The next identifiable support sits near $8.16 – a level that, if reached, would mark a fresh low and confirm that sellers remain in full control of the trend. That gap between $9.75 and $8.16 is wide enough that a breakdown would likely move fast, with limited structure to slow the decline in between.

Momentum indicators currently offer sellers more room to work with. RSI sits near 40 – weak, but not yet in the oversold territory below 30 that sometimes forces short-covering. That means sellers have space to push price lower before the market looks technically stretched. The MACD is still below its signal line, confirming that downward momentum has not reversed.

Trend strength readings back the sellers as well. Buyers have not demonstrated the kind of volume or follow-through that a confirmed bottom typically requires. A retested low often breaks when selling pressure is this sustained and indicators remain this soft – which is why Jordan’s call sits in conditional territory rather than as a firm directional trade.

Over the next three days, two scenarios shape the chart’s resolution. On the bullish side, a daily close above the $11.53 neckline would confirm the double bottom and open the path toward $12.71 and eventually the $15 zone – though the setup would still fail if LINK slips back under its 200-day average after the initial breakout. On the bearish side, a close below $9.75 would break the pattern entirely, with the trade only returning to discussion if buyers somehow reclaim the neckline afterward.

A Conditional Call Waiting on One Price

Jordan’s $15 target is not a prediction so much as a conditional roadmap. The structure of the double bottom only becomes an active setup once LINK clears $11.53 on a daily close. Until that happens, the pattern is a hypothesis being tested in real time against a market that has consistently favored sellers for the better part of a month.

LINK finished the most recent trading day flat – a pause that looks more like exhaustion than accumulation. With the 50-day at $11.71, the 200-day at $11.00, neckline resistance at $11.53, and critical support at $9.75 all in a relatively tight range around current price, the next move will likely be sharp. The question is whether buyers show up at $9.75 with enough conviction to change a month-long trend, or whether that level becomes another line sellers cross on the way down.