Chainlink is once again attracting attention as its price consolidates between support and resistance. The LINK price has been trading within a narrow range of $17 to $18, a common precursor to a significant price movement.
Chainlink Is Coiling Up for Its Next Move
According to CryptoPulse, LINK is currently consolidating within a symmetrical triangle pattern. This formation typically emerges when the market is undecided between buyers and sellers, a state that rarely persists for long.
If bullish sentiment prevails and the LINK price breaks above $18-$19, the next significant resistance level to watch is around $20, which aligns with the upper boundary of the triangle.
Conversely, if bearish forces gain control and the price falls below $17.4, LINK could decline to $15.8, a level that has previously acted as strong support.
A critical level to monitor is the $17.5 weekly mark. A clear daily close above this level would serve as confirmation that buyers are regaining dominance.
Analyst’s Simple Plan For LINK: Buy $15, Target $46
Analyst Ali Martinez has provided a broader perspective on LINK’s long-term price structure, highlighting a consistent trend.
His analysis of the LINK chart indicates that the Chainlink price has been appreciating within a rising channel since mid-2023, repeatedly bouncing between its trendlines.
Martinez’s strategy is straightforward: “Buy the dip at $15. Take profits at $46.” This plan is not merely catchy but aligns with observed market data.
Historically, each time the LINK price has touched the lower boundary of this channel, it has experienced a significant recovery. With the current price hovering near this zone, historical patterns suggest a potential repeat.
A breakout above $20 could pave the way for prices between $28 and $30. If upward momentum accelerates, the move towards $46, Martinez’s ultimate target, would align with upper Fibonacci projections.
The Calm Before a Possible Rally
Momentum indicators are showing signs of shifting, and trading volume has been subdued, which often precedes periods of increased volatility. The Relative Strength Index (RSI) is in neutral territory, providing LINK’s price with ample room for upward movement should buyers become more active.
The short-term outlook is clear: the $17.4 level must hold. If it does, LINK might be poised for a rally similar to previous upward movements within this channel. If this support fails, traders will likely focus on the $15 area as a potential zone for re-entry.
Chainlink has been building pressure for months. The triangle pattern is approaching its breaking point, and the subsequent breakout, regardless of direction, is likely to set the trend for the remainder of 2025.
Should the bullish scenario materialize, this could mark the beginning of a rally that significantly re-elevates Chainlink’s prominence in the market.