Major Cryptocurrencies Test Key Support Levels Amid Ongoing Bearish Trend

Three major cryptocurrencies, XRP, Stellar (XLM), and Chainlink (LINK), are currently testing key support levels that may provide insight into their future price movements.

XRP has been under pressure for nearly a week, with its price pushed back toward the $1.0 support zone, which has remained intact since November 2024. A break below this level would be significant, but technical indicators suggest sellers still maintain an advantage.

Stellar (XLM) has bounced from support near $0.184, a key area that previously acted as resistance before turning into support in February and May. While the price is currently trading near $0.194, buyers may struggle to push XLM above its next major resistance at $0.20.

Chainlink (LINK) has bounced from support near $7.0, with its price currently trading near $7.3. However, technical indicators suggest sellers still maintain the broader advantage, and a break above $8.0 would be required for a bullish outcome.