Ali Martinez Flags Further Downside Levels for LINK, ADA and SOL

Chainlink (LINK), Cardano (ADA) and Solana (SOL) face additional downside levels after a broad crypto-market pullback, with analyst Ali Martinez identifying technical markers below their recent trading ranges.

LINK was breaking below the neckline of a head-and-shoulders pattern on its four-hour chart, Martinez said. A failure to reclaim $13.56 resistance could leave the token exposed to levels near $12.39 and $11.98 if selling continues.

LINK had recently climbed close to $16 before retreating. Its 24% gain over several weeks outpaced growth in network activity and new-wallet creation, which lagged the price increase.

Cardano’s ADA has risen roughly 100% from its June low and reached $0.28 in early October. Martinez said the token was rejected at the top of an ascending channel on the daily chart, leaving the lower boundary near $0.21 as a potential downside level.

Solana’s SOL jumped past $120, challenged the $125 resistance and later fell below $115. After closing below $117 on the four-hour chart, the token faced downside levels near $114 and $111.

The broader market move followed weakness in Bitcoin (BTC). Bitcoin fell $2,000 in 20 minutes before continuing lower to a 17-day low and remained below $83,000. The TD Sequential indicator later showed a buy signal on the hourly chart.