The crypto market is still up and down in 2025, and Chainlink’s price keeps moving around a lot. Right now LINK is trading at $21.07, and it is at an important point after its big rise in 2024.
Looking back at 2024, Chainlink’s price kept climbing higher and higher. We saw this happen in two main ways. First, between July and October 2024, the price formed a pattern – it bounced between a straight line at the top and a rising line at the bottom. This pattern indicated buyer accumulation, culminating in a breakout above $16 that initiated a powerful upward move.
Following this, LINK formed a bullish pennant between November and December. This formation featured a period of price consolidation after a sharp rally, with the breakout driving LINK’s price to a high of $36. The bullish patterns played a vital role in LINK’s performance, maintaining a trend of higher highs and higher lows through much of 2024.
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Chainlink Price Faces Key Support Near $21
Despite its robust rally, Chainlink has entered a corrective phase, with the price retracing from its $36 peak. The current level of $21 represents an essential support zone, coinciding with the breakout area of the previous bullish pennant.
The RSI currently at 43.07, points to weaker momentum, while the Moving Average Convergence Divergence (MACD) reflects bearish trends with negative histogram values. If LINK fails to maintain support near $21, further declines may follow, with $16 emerging as the next potential support zone.
Resistance Zones Remain a Hurdle
On the upside, Chainlink faces resistance near the $28-$30 range, with $36 marking the next significant barrier. These levels align with previous consolidation zones and recent swing highs. To regain upward momentum, the price would need to breach these resistance levels, coupled with improving indicators like RSI and MACD.
Chainlink’s price hangs in a precarious balance as technical indicators suggest ongoing bearish momentum. Traders remain focused on the $21 support zone, as its breakdown or retention could determine LINK’s next major move.
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