Chainlink Reclaims $25, Eyes $30 After Six-Month Peak
Chainlink has reclaimed the $24.50–$25.00 resistance zone. LINK price surged to a six-month high of $26.76 after a retest of the $23.50 breakout level. Network activity accelerated with 2,995 new addresses added—the highest monthly increase in five months. Holding support at $23.86 is crucial for sustaining bullish momentum. Breaking the $26.25–$26.75 sell wall could open the path to a $30 target.
Key support levels lie at $23.80, $20.90 and $19.50. A monthly close above $23.86 could confirm a rally toward $34, while failure to hold may trigger a pullback to $19.41. Traders should monitor Bitcoin support around $110,000, as Chainlink’s price action may hinge on BTC stability. Short-term volatility is expected as LINK tests critical levels.
Bullish
Chainlink’s successful reclaim of the $25 resistance zone and six-month peak at $26.76, supported by increased network activity and a solid retest of the $23.50 breakout level, underscores strong bullish momentum. Holding key support at $23.86 and breaking through the $26.25–$26.75 sell wall pave the way for a $30 target and potentially $34 on a monthly close above breakout levels.
In the short term, traders should expect volatility as LINK tests critical support and resistance zones. However, the combination of technical strength, rising on-chain metrics, and Bitcoin’s support around $110,000 suggests a favorable outlook. Should LINK fail to hold its supports, a pullback to $19.41 or lower is possible but would likely represent a buying opportunity for continued upside.