LINK maintains bullish structure by holding above $12 and forming consistent higher lows.
On-chain data shows 220M LINK moved off exchanges, reducing short-term sell pressure.
CCIP integrations across major networks boost long-term utility and investor confidence.
Chainlink ($LINK) continues to show strength as it holds above the key $12 support level. Market structure remains bullish while technical indicators and on-chain activity suggest potential for further upside movement. Current price action is forming a consolidation pattern, indicating possible momentum build-up for a breakout.
Technical Structure and Key Support Levels
According to analysis prepared by Ali Charts, maintaining support above $12 positions Chainlink favorably for a breakout toward $18–$20. The $12 mark has served as an important level in previous market cycles, functioning as both support and resistance.
https://twitter.com/ali_charts/status/1940940875405971811
Chainlink is currently trading at $13.34, holding above the 200-day moving average, which is close to $13. This moving average acts as dynamic support. The price has shown consistent higher lows, and the $13–$13.25 range remains important for short-term strength. A move above $15 would open the way for further gains toward $18 and above.
CryptoWZRD noted that the LINK price closed near the daily lower-high trendline. A successful breakout above this resistance could lead to a rise toward $16, which would break the current compression structure.
On-Chain Metrics and Ecosystem Developments
According to data from Santiment, exchange-held LINK supply fell by 220 million tokens in June. This decline indicates reduced short-term selling pressure and growing investor conviction. The Mean Dollar Invested Age (MDIA) also rose to 129.50, showing that older tokens are not moving, a pattern often seen before price increases.
The Chainlink Cross-Chain Interoperability Protocol (CCIP) continues to grow. Recently, Aktionariat, a Swiss equity tokenization platform, integrated CCIP for managing cross-chain treasury functions.
The development used Ethereum, Polygon, and Optimism networks. These integrations show increased adoption and long-term utility for the Chainlink network. Chainlink’s structure remains bullish as long as it holds above $12. Further consolidation above $13 could support a move to $15 and then $18–$20.
The post Chainlink Holds Above $12 Support, Here’s Why Analysts Are Watching the $18–$20 Target Zone appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
