Chainlink (LINK): The Bullish Spotlight as It Retests Pivotal Resistance

$LINK

LINK

24.86

-5.4%

LINKUSDT

Perp

24.82

-5.41%

Chainlink (LINK) is stealing the crypto spotlight this week as it embarks on a bold run, retesting its crucial mid-range resistance near **$25**. After more than 500 days in a grueling accumulation phase between $5 and $9, LINK decisively broke out in late 2023, and its price structure has only grown stronger since[1].

The weekly chart paints a vibrant picture of upward momentum: LINK has consistently respected a higher low pattern, with **$12.80** acting as the backbone of the current rally. But all eyes are now on the $24–$26 zone—a battle-tested supply region that has capped previous rallies during the heated 2021–2022 cycles.

Here’s what traders are watching:

- **Bullish Breakout:** Should LINK confidently close above $26 on a weekly basis, it could ignite a powerful surge toward the next supply block in the $34–$38 range. Some technical analysts even see a macro path that could stretch to a dazzling $52 if broader market strength prevails.

- **Bearish Pullback:** Failure to conquer $25 could see LINK cooling off and revisiting the $18.50–$20 zone, potentially setting up another smart buy opportunity for those banking on continuation.

LINK remains inside a long-term ascending channel, a potent bullish formation stretching back to the 2020 cycle. The current action around the channel’s midline serves as equilibrium—a key test for momentum traders.

**The verdict:** Chainlink has completed its slow accumulation and is charging into an expansion phase. As long as LINK remains above $20, the macro structure looks strong—and the bulls are holding the reins. But with resistance looming, taking a measured approach, like seasoned trader @CHOWTRADE, is the smart play. Wait for confirmation, and watch the fireworks.

*Stay tuned—LINK’s next move could set the tone for the entire altcoin sector.*[1]