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Chainlink Drops 17% in a Week – LINK’s Recovery Possible Only If…
August 3, 2025 – By Akashnath S
Chainlink (LINK) has experienced a steep decline of 17.2% over the past week, with its price plummeting from $19.5 to a new low at $15.7. Despite this sharp drop, technical analysis suggests that LINK’s recovery might be possible if specific conditions are met.
According to on-chain and technical signals, it appears that the worst of the retracement may be over. However, this does not guarantee a bounce just yet. A recent distribution phase has been in progress for the past ten days, which indicates a wave of profit-taking activity among investors. Nonetheless, data from Santiment suggests that this trend might be coming to an end.
One critical factor that could influence LINK’s price movement is its correlation with Bitcoin (BTC). As traders, it is essential to keep a close eye on BTC’s price action, as any significant shifts in the market may have a knock-on effect on other cryptocurrencies like LINK.
Source: ambcrypto.com
