Chainlink (LINK) has dropped by roughly 20% over the past two weeks, but analysts like Ali (@ali_charts) are not convinced this is a reason to panic. Despite the dip, the broader structure still points toward a bullish continuation as long as key support levels hold.
LINK price is currently hovering around $17.70, and according to Ali, the critical level to watch is $13. If the Chainlink price stays above that, there’s no reason to turn bearish just yet.
What you'll learn 👉
Chainlink Price Structure Still Looks Strong
Ali’s chart provides a broader perspective on LINK price action. It shows that the token is still trading within a large ascending parallel channel that has been in play since mid-2023. The price recently bounced from the lower boundary of this channel near the $15 region and is now attempting to build momentum again.
What’s especially important is that the $13 support level aligns closely with the channel’s base and a key Fibonacci retracement area. This confluence adds weight to Ali’s argument that the bullish trend is intact. So long as the LINK price does not break below that level, bulls may still be in control.
LINK Price Could Reach as High as $45
Looking ahead, the chart outlines a potential path that could take the Chainlink price to much higher levels. Based on the Fibonacci extension lines and the rising channel, Ali has projected a possible rally toward $20, $26, and even $34 in the medium term. If the momentum continues to build and the $26 resistance breaks, the LINK price could eventually climb to around $44 or more.
These targets are not arbitrary. They align with major Fib levels like the 1.272 level around $46.85 and the 1.414 level close to $59.91. The dotted projections on the chart reflect a possible stair-step climb, with each move consolidating before attempting the next push higher.
Support at $13 Is the Line in the Sand
While the market has been shaky, Ali’s analysis suggests that the long-term uptrend for Chainlink remains untouched. The $13 mark is the level to watch. If it holds, there is a strong case for continued upside over the coming months.
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In Ali’s words, “As long as Chainlink $LINK holds above the $13 support level, the bullish outlook remains intact. No reason to be bearish just yet.” That message has resonated with many investors who are now eyeing this pullback as a possible opportunity rather than a warning sign.
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