Chainlink Breaks Key Resistance at $24.88, Bulls Eye $33.75
Chainlink surged 6% in 24 hours after reclaiming a $9.49 high-timeframe support, sparking a bullish uptrend. Price action now resides above the value area high and confronts critical resistance at $24.88. A daily close above this level could trigger a further rally toward the $33.75 target, aligning with a previous swing high. Bullish volume inflows and a strong market structure underpin Chainlink’s upside potential. If support holds above the point of control, traders may see sustained momentum; failure could prompt a retest of the POC or $9.49 support. Overall, Chainlink’s technical setup remains bullish, positioning it for significant gains if resistance levels are decisively broken.
Bullish
Chainlink’s break above key support and ongoing reclaim of structural levels, combined with healthy bullish volume, signals a strong likelihood of further upside. Historically, when Chainlink has recaptured its point of control and value area low — as it did in May 2024 — it has continued to rally by over 20% in subsequent sessions. The current barrier at $24.88 represents a critical resistance; a decisive daily close above this level typically attracts momentum traders and triggers broader market participation. In the short term, a sustained breakout could propel LINK toward $33.75, while failure to hold may see a retest of $9.49 or the POC before another advance. Over the long term, establishing new swing highs would validate a shift into an extended bull phase, enhancing market stability and confidence.