Chainlink Price Prediction Hints at 4x Expansion as $19.50 Resistance Faces Major Retest

After forming a multi-year base, LINK appears poised to test historical resistance with volume and structure aligning for a potential macro shift.

Analyst charts suggest a breakout could unlock a rapid expansion phase. At the time of writing, Chainlink trades at $16.60, with indicators pointing to rising pressure on short-term support zones.

The weekly LINK/USDT chart shared by analyst Smith (@CryptoSmith0x) outlines a long-term accumulation and expansion framework. From mid-2022 through early 2023, the token consolidated under $10, forming a prolonged accumulation base.

This consolidation zone acted as a launchpad for the rally that followed in early 2024, where LINK surged into the $18–$20 range. The breakout from this zone marked the start of an expansionary cycle, commonly associated with upward price revaluation in market cycle theory.

Source: X

As shown on the chart, LINK has now revisited the $19.50 resistance level. This area has historically served as a key inflection point and is being tested once again. If Chainlink manages a clean break and closes above this threshold, the chart projects a steep upward trajectory toward the $42.00 zone.

The outlined expansion target would reflect a 4x move from the breakout point, indicating the importance of the $19.50 level in defining future price direction. The trajectory mimics previous parabolic phases observed in LINK’s trading history.

The recent 24-hour chart paints a more cautious short-term picture. Chainlink dropped sharply from above $18.00 to $16.84, marking a 6.56% loss in a single session. This decline was led by persistent selling pressure throughout the trading day, with minimal intraday recovery.

The price action produced a series of lower highs and lower lows, suggesting sellers maintained firm control during the move. While a minor rebound occurred toward the end of the session, there was no clear sign of trend reversal.

Source: BraveNewCoin

Trading volume during the drop reached $814.48 million, reflecting high participation levels as the price declined. This typically confirms that the move was not a result of thin liquidity but rather active position unwinding. The high trading concentration around the $17.00–$16.60 range may establish this zone as an area of interest for short-term support or resistance flips. However, the absence of a volume spike on the rebound may limit the strength of any potential recovery unless accompanied by renewed bullish activity.

The daily chart of LINK reveals further clues about underlying market sentiment. After reaching a local high of $20.28, the price pulled back to $16.60, down 1.89% intraday. The retracement is testing a former resistance zone between $16.40 and $16.50, which may act as short-term support.

Though the longer trend remains intact above June levels, this correction has reduced short-term bullish momentum.

Source: TradingView

The Chaikin Money Flow (CMF) indicator currently sits at +0.08, suggesting that capital inflows are still marginally positive. However, the weakening CMF trend from a recent +0.20 peak signals waning buying strength. Meanwhile, the Bull and Bear Power (BBP) reads -1.78, confirming bearish dominance in intraday movements.

A sustained negative BBP reading, coupled with flattening CMF, indicates that buyers have yet to regain control. Should this trend continue, Chainlink could retest lower support zones around $15.00 or $14.00 before establishing a new base.