Chainlink is looking ready for the next bullish move, according to a chart shared by analyst Crypto_ED (@Crypto_ED7) on X. The LINK price is currently trading at around $15.86 and showing signs of strength after a clean breakout from its long-standing downward trend.
The daily chart shows that LINK broke out of a descending channel that had been acting as a strong resistance for weeks. After that breakout, the price pulled back to retest the $15.00 zone, which previously acted as resistance. This area has now flipped into strong support, confirming what traders look for in a healthy bullish structure.
Crypto_ED highlighted that this is the type of price action bulls want to see, first a breakout, then a retest, and now a strong hold. Volume has also been increasing on green candles, which signals that buyers are stepping in aggressively.
$LINK looking strong – bullish setup $LINK | Chainlink is showing solid strength on the daily chart. After breaking out of a long descending channel, price has pulled back and held support beautifully around the $15.00 zone. This level has now flipped from resistance to… pic.twitter.com/3nmevbGTX0
— CryptoED (@Crypto_ED7) May 27, 2025
RSI and Stochastic Indicators Support the Move
Momentum indicators are also lining up well. The Stochastic RSI is bouncing from oversold levels, while the regular RSI remains above 50, suggesting that LINK is still in a healthy trend. This setup gives further confirmation that momentum is turning back in favor of the bulls.
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According to Crypto_ED, if the LINK price can close above $16.50 on the daily chart, it could open the door for a rally toward the $18 and $20 levels. The structure is intact and the path higher looks promising as long as price continues to hold above the key $15 level.
Chainlink is showing solid technical signs of strength, and traders will be watching closely for that daily close to confirm the next leg up.
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