Chainlink Price Faces Diagonal Resistance With $31 Target Still in Sight

Strong trading volume near $839 million underscores active market interest. Holding above $21.30–$21.40 is key for bulls to regain momentum and target higher zones, potentially setting the stage for a strong recovery rally.

Chainlink is trading around $21.77, with the $22.00 level acting as a crucial pivot. Analyst Crypto Monkey noted in a 4-hour chart update that the price is testing this mark after a period of steady declines. The outcome at this level could determine the next directional move in the market.

LINKUSDT Chart | Source:x

A rejection at $22.00 may create a short trade opportunity toward the $20.00 area, which remains a key demand zone. The chart indicates this lower level as an important support should sellers gain control. On the other hand, a confirmed breakout and close above $22.00 could attract fresh buying and open the path toward $26.00.

Analyst MarketMaestro reported that LINK failed to clear a long-term red diagonal resistance on the monthly chart. This trendline has blocked several upside attempts since the 2021 peak, reinforcing its role as a strong technical barrier. The recent rejection shows that selling pressure remains active at higher levels, keeping immediate support areas under pressure.

LINKUSDT Chart | Source:x

The analyst outlined key support levels around $14, $17, $21, and $25 as potential demand zones if selling continues. Sustaining strength above these points is essential to prevent a deeper pullback. Momentum indicators suggest that the altcoin needs consistent buying pressure to stabilize and attempt another breakout above the red diagonal resistance.

Despite recent rejections, the $31 zone remains the next major target if bullish conditions return. MarketMaestro noted that a decisive monthly close above the red diagonal resistance could shift market sentiment and set the stage for a new upward move toward higher Fibonacci extensions.

For now, the market is watching whether the token consolidates above the key supports to build a base for another rally attempt. A recovery supported by increasing volume and a break above the resistance line could allow Chainlink to resume its long-term bullish trajectory and approach the $31 target.

The 24-hour chart reveals that the asset opened near $21.60 and briefly moved above $21.80 before midday. Selling pressure strengthened later, pushing the price to $21.37 by the session’s end, marking a 1.35% daily loss. This intraday reversal shows sellers were active throughout the session.

LINKUSD 24-Hr Chart | Source: BraveNewCoin

Trading volume remained strong at about $839 million, with consistent histogram bars confirming sustained market participation rather than thin liquidity. The $21.30–$21.40 area now serves as immediate support. However, a break below this range could lead to deeper retracements if buying interest fades.

With a market capitalization of approximately $14.48 billion and a circulating supply of nearly 678 million, Chainlink holds the 13th spot among major cryptocurrencies. Reclaiming $21.80 is important to re-establish upward momentum in the short term while the broader market watches for a breakout above the red diagonal resistance.