Chainlink's LINK token is currently facing a critical juncture, struggling to surpass the $13.80 resistance level. If it fails to break through, a downward spiral may ensue, with the $13.00 support level at risk of being breached. Against the dollar, LINK's price is showing signs of decline, currently trading at $13.41.

To spark a price surge, Chainlink must overcome the $13.80 resistance zone. However, if it fails to break the $13.50 level, a new downtrend may be imminent. The LINK/USD pair's 4-hour chart reveals a significant downtrend line around $13.50, with the next major resistance at $13.80.

A clear break above this level could trigger a steady rise towards $14.00.If Chainlink experiences further losses, the next critical support level is at $12.80, and a move below this level could lead to a decline to $12.20.

Technical analysis indicators, such as the 4-hour MACD and RSI, suggest potential continued selling pressure, signaling a possible downtrend in the price. Will Chainlink break through the resistance or break down? Only time will tell.