Chainlink is making waves again after bouncing off a major support zone near $12. The price is now hovering around $13, and some traders are starting to get excited, especially after crypto analyst CryptoED posted on X(Formerly Twitter), where he calls for a breakout and targets $32. 

He tied the bullish outlook to easing tensions in the Middle East, which he believes could give altcoins the green light to rally. 

Still, even with the bounce and growing buzz, LINK price hasn’t broken out of its broader downtrend just yet.

LINK Stuck in a Range—But Pressure Is Building

Since March, Chainlink has been stuck in a descending channel. The latest price action shows it bouncing off the lower end of that channel, right near the $11.50–$12.00 support zone. 

That move came with a strong green candle and trading volume pushing up to 1.8 million and suggest buyers are stepping back in.

The key resistance level now sits around $14.50. That’s the top of the short-term range, and it’s been a ceiling for weeks.

If LINK price can break above that with some force, the next stops could be $17.50, $22.50, and maybe even $27.50, the levels drawn from the Fibonacci retracement lines seen on the chart.

Momentum Indicators Show Signs of Life

On the daily chart, indicators are starting to lean bullish. The Stochastic RSI is bouncing from oversold levels and showing a bullish crossover. The regular RSI is sitting at 41.23, so there’s room to run before things get overheated.

Source: X/CryptoED

Volume is picking up a bit too, which is a good sign, but for a real breakout above $14.50 to stick, LINK price needs more firepower. Until then, the price might just keep drifting sideways inside its current range.

Can LINK Price Really Hit $32?

In his tweet, CryptoED made a bold claim: LINK price could reach $32 if conditions stay favorable and altcoins take off. 

For that to happen, Chainlink would need to break out of the channel, reclaim $15, and then hold above $17.50 for a sustained move.

That kind of run isn’t out of the question, but it’s far from guaranteed. For now, traders are keeping an eye on whether LINK can build on this bounce or if it’s headed back toward support around $11.50.

Read Also: Here’s What 99 Chainlink (LINK) Tokens Could Be Worth by 2026

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The post Chainlink Holds $13 as Momentum Builds – Can LINK Price Hit $32? appeared first on CaptainAltcoin.