Crypto Analyst Sounds Warning Alarm For Potential 50-60% Crash In Chainlink Price, Here’s Why

Source Newsbtc

Crypto analyst CrediBULL Crypto recently warned that Chainlink (LINK) could experience a 50% to 60% drop in its price. However, based on his explanation, LINK holders may not have cause to worry as such a price drop is part of the crypto token’s growth.

Why Chainlink Will Experience A Price Drop

CrediBULL Crypto explained in an X (formerly Twitter) post that a “50-60% drawdown is normal, natural, and healthy” given that Chainlink has experienced ten months of up only and a 4x rally.” The analyst expects this price drawdown to last about two to three months and suggested that Chainlink could see brief price surges, but that doesn’t invalidate the current bearish trend.  

Chainlink

In a video posted on his YouTube channel, CrediBULL Crypto further explained why he is so confident in shorting Chainlink. He alluded to the rise in the crypto token’s open interest and claimed that many levered players entered Chainlink on the pump to a major resistance level. He expects that those investors who opened longs will likely begin to close their positions as soon as Bitcoin experiences a pullback and the crypto market starts bleeding again. 

The crypto analyst added that these investors will capitulate at the lows, which will bring Chainlink’s price to the range lows. CrediBULL Crypto claimed that this move will bring LINK back down to $11.96, about a 30% drop from its current price levels. Based on this, he revealed that he will be looking to short Chainlink around $16, which is the likely level for rejection. 

Same Expectations For Meme Coins

CrediBULL Crypto also expects meme coins to experience a significant price drawdown, given the parabolic rally they have enjoyed since the beginning of the year. Meme coins Dogwifhat (WIF) and Pepe (PEPE) have been the most significant year-to-date (YTD) gainers among the top 50 crypto tokens, with price gains of over 1,400% and 500%, respectively. 

The crypto analyst warned that some major meme coins have already seen their tops and will likely experience significant declines. In the YouTube video he posted, he also gave insights into how low Dogecoin, WIF, and Pepe could drop. 

For Dogecoin, he predicts that the foremost meme coin could drop to as low as $0.10. However, CrediBULL Crypto noted that he can’t short Dogecoin yet because he expects a relief pump to $0.18, the range he is looking to open a short position. 

Meanwhile, he predicts that WIF could drop to as low as $1.6, revealing that he will be looking to short it at $3.90 because he expects the meme coin to enjoy one last push to the upside before dropping to the downside. CrediBULL also predicts a significant price decline for PEPE. He claims the meme coin could experience a drawdown of as much as 60% since it recently hit a new all-time high (ATH).

Chainlink price chart from Tradingview.com
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin slides deeper into red as bears lean on $96,600 wall and eye $90,000Bitcoin extends its decline after failing to reclaim $96,500, trading below $95,000, the 100-hour SMA and a bearish trend line near $96,600; unless bulls can force a decisive close back above $96,600–$97,200, the short-term path of least resistance stays lower, with $92,500, $90,000 and the main $88,500 support zone in focus.
Author  Mitrade
Nov 17, Mon
Bitcoin extends its decline after failing to reclaim $96,500, trading below $95,000, the 100-hour SMA and a bearish trend line near $96,600; unless bulls can force a decisive close back above $96,600–$97,200, the short-term path of least resistance stays lower, with $92,500, $90,000 and the main $88,500 support zone in focus.
placeholder
Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Author  Mitrade
Nov 17, Mon
Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
placeholder
Gold Price Forecast: XAU/USD declines below $4,050 on USD strength and hawkish Fed comments Gold price (XAU/USD) extends the decline to around $4,030 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back expectations of a US interest rate cut next month.
Author  FXStreet
Yesterday 01: 23
Gold price (XAU/USD) extends the decline to around $4,030 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back expectations of a US interest rate cut next month.
placeholder
Ethereum Edges Toward Long-Term Holders’ Cost Basis, Now Only 8% Above Key Accumulation LevelEthereum is trading near $3,150 and just 8% above a key $2,895 long-term holders’ cost basis, with on-chain flows, macro uncertainty and support around $3,000–$2,800 all shaping what comes next for ETH.
Author  Mitrade
Yesterday 02: 28
Ethereum is trading near $3,150 and just 8% above a key $2,895 long-term holders’ cost basis, with on-chain flows, macro uncertainty and support around $3,000–$2,800 all shaping what comes next for ETH.
placeholder
Ethereum Dips Below $3,000: Is the Bull Market at an End?Ethereum's price plunged below $3,000 for the first time in four months, marking growing concerns of a potential end to the bull market.
Author  Mitrade
Yesterday 03: 34
Ethereum's price plunged below $3,000 for the first time in four months, marking growing concerns of a potential end to the bull market.
goTop
quote