Chainlink Price Analysis: LINK Holds Bullish Structure as Buyers Target Higher Levels

Investors will be on the lookout for the coin to hold the $13-$14 region and resume the bullish move.

Recent traders’ technical setups highlight how LINK has pushed past old resistance and is now acting as support. LINK is currently trading around $14.37 on the latest TradingView chart, with short-term momentum settling down after a retest of higher levels.

Currently, support is mainly seen in the $13-$14 range, but resistance levels above could be key in driving Chainlink’s subsequent recovery. Pluang

Chainlink Price Action: In the past few days, the coin has recovered from the long consolidation. The monthly chart by traders shows LINK is bullish from lower levels and heading toward previous support regions.

Trader Sjuul from Alt Crypto Gems said that LINK had pierced several resistance levels and flipped them into support zones. The trader said that the range of $13-$14 would be an ideal region to defend.

Chart structure: LINK has been consolidating higher lows once taking off from its long-term range accumulation. Source: X Via Sjuul

Bouncing from the aforementioned zone would be enough to keep this bullish structure in play, but if broken, the token will likely come back to its lower ranges.

Another market observer, Altcoin Cadel, referenced the LINK daily chart structure, advising some patience in the recent falling wedge coin. According to the long-term chart, LINK has been very far away from breaking into the all-time highs near $50 last seen in 2021.

LINK/USD – One-hour chart: The one-hour chart on TradingView shows LINK at around $14.37 after showing that it had recovered from its intraday decline. The market has been trading in a tight range following a swift upward move earlier in the trading session.

This shows several retests of the $14.50 level, implying the sellers are lingering in the vicinity of that area. Should the price break out to the upside and stay above this zone, the pressure could be released to the upside.

Link now appears near the middle of its recent trading range according to the Bollinger Band indicator. The price broke above support near the lower band, indicating an easing of selling pressure for the moment.

The Chaikin Money Flow (CMF) indicator is still below zero at approximately -0.17. This indicates that the strength of buying pressure has not been affirmed yet. Source: TradingView

LINK requires a greater amount of volume confirmation to break higher. If the breakout is not accompanied by increased buying pressure, LINK could reject once again.

As long as Chainlink finds itself in the support zone of $14, buyers will try to make another attack on the $15 level—the next psychological resistance after the recent correction.

Should it climb beyond this point, LINK would approach the higher targets in the range of the former resistance levels marked on the broader timeframes. Others have suggested the potential for more upside if the token follows a longer-term formation. Crypto News

The downside: One drawback of taking out the $13 support zone is that it can soften the current setup. LINK can be opened up to its next support zone formed in the previous consolidations if it falls below this area.

The monthly chart is still relevant, as LINK has traded below its 2021 high for years. There needs to be a sustained breakout, more buying pressure, and more market participation. Source: X Via Altcoincadet

Market Conditions and Blockchain Infrastructure Projects: Bitcoinfoundation.org. We also have to look at wider cryptocurrency market conditions and the development of blockchain infrastructure projects, which can still determine LINK’s price. However, overall technical figures suggest that the chart can continue to grow in the short term.