Chainlink Poised for Rally if $17.80 Breaks

The price recently tested the $17.80 level but was met with resistance near the top of the channel. A successful breakout above this level could trigger a rally toward the psychological $20.00 mark. If this move gains traction, LINK may extend its rally toward the next major resistance levels at $22.50 and $24.00.

Will Chainlink (LINK) Explode Past $17.80? Bullish Channel Signals More Upside 4

On the downside, immediate support lies at $15.80. A break below this could see LINK falling toward the channel’s lower boundary around $14.00. Further losses might drag the price down to $12.00, though the overall market structure currently favors bulls. As long as LINK remains inside the ascending channel, dips may present buying opportunities.

From a broader perspective, Chainlink’s upward momentum is supported by growing interest in decentralized oracle solutions and improved market sentiment. The technical outlook remains positive, with bullish momentum dominating the trend. Traders are closely watching for a decisive move above $17.80 to confirm the next leg higher.

If LINK manages to close above this critical resistance with increased volume, the path to $20.00 becomes more likely. This breakout could attract further attention from traders looking for short- and mid-term upside potential.