Chainlink is approaching a technically sensitive area with a growing downside 
risk on higher timeframes that was flagged by a crypto analyst. Based on a 
recent technical analysis on X, the analyst noted that LINK’s current weekly 
structure leaves the market vulnerable if an important support zone around $10 
gives way. The price action is still holding above that area for now, but the 
chart shows that a decisive move below it could quickly change the outlook 
into a bearish mood. Head And Shoulders Formation On Weekly Timeframe 
According to a popular crypto analyst known as CryptoBullet on X, LINK’s 
weekly chart has carved out a standard head and shoulders formation. Based on 
the rules of technical analysis, the Head and Shoulders (H&amp;S) pattern is 
bearish. The pattern resolves bearish when there is a confirmed break below 
the neckline resistance. Related Reading: Bitcoin Price Prediction: Analyst 
Forecasts 72.86% Crash To $30,000 Technical analysis of Chainlink&#8217;s price 
action shows the left shoulder formed during the early stages of the 2024 
recovery, followed by a higher peak that marked the head in early 2025. This 
was then followed by another lower high that completed the right shoulder in 
the second half of 2025. However, the most important zone to watch is the 
neckline support, which slopes slightly upward and is currently sitting in the 
$10 to $11 region. This support zone has acted as structural support during 
multiple pullbacks while the head and shoulders pattern was taking shape, 
making it the most important level to watch going forward. As long as the 
price holds above it, then the pattern is unconfirmed. ChainLink Price Chart. 
Source: @CryptoBullet1 on X Losing Support Level And Price Targets The analyst 
cautioned that a decisive weekly close below the neckline would activate the 
bearish setup. In technical analysis, a confirmed head and shoulders breakdown 
is known to open the path to a measured move equal to the height of the 
pattern. Applied here, that projection places LINK’s downside target in the $4 
to $5 range, which would represent just about a 50% decline from current price 
levels. CryptoBullet described this outcome as the lowest area LINK could 
reach this year if there&#8217;s strong selling pressure, and that such a move would 
only come into play if support fails very quickly. Related Reading: Ripple’s 
Next Steps: Where XRP Stops Being Trade And Starts Being Infrastrucutre 
Notably, the analysis also pointed to an intermediate level that could act as 
a stopping point that might stop LINK from crashing to $4. A more conservative 
downside target is around $7.15, which is connected with the Point of Control 
on the Volume Range Visible Profile and overlaps with the 2022 to 2023 
accumulation zone that&#8217;s shown on the chart above. At the time of writing, 
LINK is trading at $11.98, up by 1.1% in the past 24 hours but down by 5.4% in 
a seven-day timeframe. A rebound from the neckline area would shift the short- 
term outlook to a relief bounce. Featured image created with Dall.E, chart 
from Tradingview.com

Analyst Says Chainlik Price Could Crash 50% If This Level Fails

The cryptocurrency industry faces a critical three-year period to demonstrate 
widespread adoption if the Clarity Act fails to pass the U.S. Senate, 
according to Bitwise&#8217;s Matt Hougan

Bitwise CIO: Crypto industry faces critical period if Clarity Act fails to pass

The Australian Federal Court fined BPS Financial $9.7 million for operating 
its Qoin Wallet without a license and making misleading claims about its 
functionality. Permanent Ban on Qoin Promotion The Australian Federal Court 
has ordered digital currency payments provider BPS Financial to pay total 
pecuniary penalties of $9.7 million (AUD$14 million) following a lengthy legal 
[…]

Australian Federal Court Slams BPS Financial With Heavy Fine for Crypto Misrepresentation

Pi Network has launched Tether USD transaction capabilities on its testnet, 
enabling users known as Pioneers to test decentralized finance features.

Pi Network introduces Tether USD transactions on testnet platform

OpenAI launches Prism, a GPT5.2-powered scientific writing tool aimed at 
streamlining research collaboration and workflows.
The post OpenAI launches Prism, a free LaTeX-native AI workspace powered by 
GPT‑5.2 appeared first on Crypto Briefing.

Cryptocurrency price in LKR