Chainlink (LINK) is attempting to recover after sliding from above $15.50 in late September, with analysts Michael van de Poppe and Investor Jordan both weighing in on the token's outlook. LINK is the native token of Chainlink, a decentralized oracle network that supplies smart contracts with off-chain data, including the price feeds widely used across decentralized finance (DeFi). LINK rebounded toward $13.00 after falling to $12.20, and on Oct. 11 it traded at $12.853. Immediate resistance now sits at $13.20, with support at $12.50 and $12.20. Van de Poppe views LINK's performance against Bitcoin as a possible retest, while Jordan says he has bought back into the token across three price zones.

LINK Rebounds After Falling Toward $12.20

LINK declined from approximately $13.30 on Oct. 7 to around $12.20 on Oct. 9 before recovering toward $13.00. The pullback followed a rally that carried the token from roughly $10.70 in mid-September to above $15.50 around Sept. 29.

However, the recent series of lower highs shows that the earlier rally has lost momentum. LINK was down 0.15% on the latest four-hour candle on Binance, despite recovering from its October lows.

Immediate support sits near $12.50, followed by $12.20. If buyers defend those levels, LINK could revisit the resistance zone between $13.00 and $13.20. A sustained move above that range could expose $13.50 and $14.00, while a breakdown below $12.20 could bring $12.00 into view. The $13.00-$13.20 range therefore marks the key hurdle for the current recovery attempt.

Van de Poppe Sees a Possible LINK Low

Widely followed crypto analyst Michael van de Poppe described the market correction as relatively harsh for LINK. However, in a post on X (https://x.com/CryptoMichNL/status/2108943136747864348?s=20), he said LINK's performance against Bitcoin looked more like a retest than a deeper deterioration. Comparing an altcoin against Bitcoin is a standard way analysts distinguish token-specific weakness from market-wide pressure. The analyst said he was watching for a possible bounce and a potential low forming around the current area, with his assessment focused on LINK's relative performance against Bitcoin during the wider market decline.

Meanwhile, the four-hour Relative Strength Index stands at 40.85, slightly above its moving average of 40.72. Both readings remain below the neutral 50 level, indicating that momentum is still subdued overall, although it has improved marginally.

Investor Jordan Reenters LINK Across Three Buy Zones

Investor Jordan said he had sold near $15 and subsequently invested a high five-figure amount back into LINK across all three of his buy zones. Scaling back in across several predefined levels is a common approach that spreads an entry cost rather than committing the full amount at a single price. He added that he still had capital available should his final entry level trigger.

On the technical side, the four-hour MACD histogram reads positive 0.049, with the MACD line at -0.154 and the signal line at -0.203. The reading suggests a bullish crossover attempt, although both lines remain below zero. Trading volume stands at 78.4K, and a move above $13.20 remains important for the recovery attempt.

For now, attention remains fixed on whether LINK can hold $12.50 and $12.20 and push back above $13.20.