Chainlink has gained attention after a 2.93% move upward, bringing the token to around $13.69. Market watchers point to an emerging technical pattern and a growing sense of momentum recovery.
A tweet from analyst CryptoED adds fuel to the discussion, which suggests a potential rally that could push LINK to $32–$38 if certain conditions are met.
The LINK chart, shared on TradingView, supports the idea of a possible trend reversal. Technical structures and volume behavior are being monitored as LINK approaches key resistance zones.
What you'll learn 👉
Falling Wedge Formation Nears Decision Point
Chainlink price has been stuck within a falling pattern since late 2023 into mid-2025. This structure is known as a bullish reversal pattern, formed by lower highs and lower lows with a narrowing range.
The price is currently testing the upper edge of this pattern, which could act as a breakout zone if buyers step in with strong momemtum. Since peaking near $52, LINK price has seen consistent selling, but bearish momentum appears to be fading.
The price is now hovering around a Fibonacci area between $13.80 and $16.30. If the wedge breaks to the upside, bulls may aim for higher resistance levels in the coming weeks.
Key Resistance and Support Levels to Watch
The closest resistance sits at $14.20-$14.80. If LINK price closes above that level, we could see it push through $16.30, followed by $20 and $24. These levels match up with past price action and key Fibonacci retracements.
Support zones are also clearly defined. The $12.80–$13.30 range has served as near-term support, while $10.00–$11.00 remains a stronger zone based on past reactions. If the breakout fails, a retest of $9.00 is still possible.
Indicators Show Momentum Recovery in Progress
Chainlink price daily RSI has moved back to the 44–45 range, suggesting moderate momentum with room to grow. The Stochastic RSI is turning down from overbought territory, which may indicate a short-term cooldown.
Volume is holding near one million but lacks the surge often seen in confirmed breakouts. The setup shows potential, but traders may wait for confirmation above the $14.20 level.
Read Also: Is Chainlink a Scam? This Chart Says So
Analyst Outlook and Market Reaction
A tweet from CryptoED expressed bullish expectations, stating: “Chart looks incredibly Bullish eyeing that $32–$38 on the next Leg.”
While this level remains above current technical targets, the chart structure does support the potential for upward continuation if resistance zones are broken with volume.
LINK price performance will now depend on how it reacts to the wedge structure and nearby resistance. Traders are watching for a daily close above key levels to confirm further strength.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
