Chainlink price has been following a predictable pattern on the macro scale, with strong technical indicators suggesting significant upside potential remains for the LINK token.
Analyzing the quarterly and monthly charts, 5DayCrypto YouTube channel revealed clear evidence that Chainlink has been respecting key Fibonacci levels throughout its recent price action, establishing a pattern of higher lows and higher highs that bodes well for future growth.
The channel, with over 12,000 YouTube subscribers, shared an in-depth technical analysis of LINK price action. Their review of the quarterly and monthly charts reveals that Chainlink has consistently pivoted around the crucial $20 level, which appears to be the key threshold for unlocking significant upside potential.
What you'll learn 👉
Chainlink’s Fibonacci Journey Points to Higher Targets
From the 2021 cycle high down to the bear market lows, Chainlink has established a clear Fibonacci scale that it has been respecting well. The LINK token bounced from its lows right to the 0.618 Fibonacci level, initially holding it as resistance in January 2024. It then retraced to the 0.23 level, which coincided with previous high-range wicks during the bear market base-building phase.
After consolidating at this support, LINK bounced strongly again, reaching the 0.786 Fibonacci level before retracing to the 0.382 level last month. This stair-stepping pattern of higher lows and higher highs demonstrates healthy price action, with Chainlink “climbing the ladder” in a sustainable manner that suggests continued upward momentum.
The analysis indicates that while reaching the 1.618 Fibonacci extension might be unrealistic for this cycle, attaining all-time highs or even the much-anticipated $100 target remains plausible if certain conditions are met.
The Critical $20 Threshold for LINK Price
The most significant takeaway from this macro analysis is the importance of the $20 level for Chainlink. The YouTube channel revealed that LINK has historically pivoted around this price point, with $20 serving as a range high multiple times throughout its price history. Breaking and holding above this threshold has previously catalyzed Chainlink’s most explosive price moves.
For those $100+ price targets to remain viable before the end of this cycle (estimated around the end of 2025), Chainlink needs to break above $20 during the current quarterly candle, which closes July 1st. Ideally, LINK would close above the 0.618 Fibonacci level in the coming months.
On the monthly timeframe, evidence suggests that Chainlink has established solid support around the $12 area, with the median Gaussian channel and the 50-month moving average providing a strong safety net. If LINK can close above the upper Gaussian channel line this month, the probability of reaching higher targets increases substantially.
Read Also: We Asked AI to Predict Chainlink (LINK) Price If Bitcoin Hits $150K
Market Conditions Support Potential LINK Rally
The broader crypto market context also appears supportive for Chainlink’s potential upside. Bitcoin has shown resilience with recent volatility, quickly recovering from dips and demonstrating strength. As Bitcoin stabilizes, altcoins typically follow with even stronger moves, positioning LINK well for potential gains.
According ot the analysis, short-term price action on hourly or 4-hour charts create unnecessary stress for investors; but focusing on the bigger picture reveals that Chainlink’s fundamentals remain strong. The analyst emphasizes that once LINK breaks and holds above $20 on weekly, monthly, or quarterly timeframes, “the handcuffs are off” and significantly higher prices become likely.
The timing of this breakout is crucial – the sooner Chainlink can reclaim and hold above $20, the higher the ultimate price target becomes. All-time highs appear achievable regardless, but the $100 mark specifically depends on how quickly LINK can establish itself above this key threshold.
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