Chainlink (LINK) Price Prediction: LINK Eyes $17.2 if Bulls Regain Strength

The Chainlink price prediction shows that LINK is currently showing signs of consolidation within an ascending channel, as traders anticipate the next significant directional move.

The Chainlink price prediction shows that LINK is currently showing signs of consolidation within an ascending channel, as traders anticipate the next significant directional move.

It’s often said that being early to a crypto project can yield incredible returns, and Chainlink (LINK) provides a striking example of this principle in action. Since hitting an all-time low of just $0.1263 on September 23, 2017, LINK has soared by an astonishing +11,189.1%. This rally took the token to a high of $52.88 on May 10, 2021, though it now trades lower at $14.44. But even at this level, the long-term performance is noteworthy.

Link Price Prediction: LINK/USD Technical Analysis

Key Levels:

Resistance levels: $17.2, $18.2, $19.2

Support levels: $11.8, $10.8, $9.8

LINK/USD is currently respecting the ascending channel structure, with the bulls making efforts to defend the 9-day and 21-day MAs. The daily chart reveals that LINK is trading around $14.44 after experiencing a mild pullback of 3.03%. Despite the dip, the 9-day MA ($14.11) is still trending just below the 21-day MA ($14.56), hinting at some indecision in the market but with potential for a bullish breakout if momentum shifts upward again. As long as price action stays within the channel and above the lower trendline, LINK remains in a technically healthy uptrend.

For the bulls to regain full control, LINK needs to close decisively above the $15.50-$16.00 area and reclaim the mid-channel zone. Such a move would set the stage for a run toward resistance levels at $17.2, $18.2, and possibly $19.2 in the coming sessions. The recent bounce off the lower boundary of the channel shows that buyers are still defending key demand zones. A crossover where the 9-day MA reclaims its position above the 21-day MA would confirm fresh upside momentum, likely attracting additional buyers into the market.

However, if LINK fails to hold above the moving averages, it risks slipping back toward the lower channel support at $13.00, with extended bearish targets at $11.8, $10.8, and $9.8. The volume profile also indicates a relatively weaker bullish conviction, meaning any downside break could accelerate quickly if support is breached. Traders should watch for price interaction with the MAs and the structure of the next few candlesticks for a clearer signal of market direction.

Link Price Prediction Against Bitcoin

Based on the current daily chart, the LINK/BTC trading pair is still largely operating within a bearish channel, suggesting a continuing downtrend. The pair is currently priced at 1344 SAT, placing it conveniently above the 9-day Moving average (MA), which offers immediate support around 1324 SAT. Nevertheless, the price is still trading below the 21-day MA at 1364 SAT, which hints at a continuation of the bearish trend in the short-to-mid term.

This setup implies that although there’s a mild recovery attempt in progress, it lacks the strength to reverse the overall trend completely. For that to happen, buyers would need to push the price above the descending trendline and the 21-day MA. But as long as this level is not crossed, the bears maintain a slight edge.

Looking ahead, the key resistance level to watch is 1550 SAT, which coincides with the upper boundary of the bearish channel. A confirmed breakout above this zone could signal a trend reversal and open the way to higher levels. On the downside, the 1150 SAT support level remains crucial, marking the lower bound of the current pattern. A drop below this would likely accelerate bearish momentum, potentially taking LINK deeper into uncharted lows against Bitcoin.

Volume levels remain relatively low, suggesting that any breakout may require a surge in buying pressure to gain validity. For now, the market leans cautiously bearish within a clearly defined channel. A decisive move above the channel or a strong break of key support will provide a clearer indication of the preferred direction.

Additionally, @cryptoWZRD_ shared with his followers on X (formerly Twitter) that although $LINK closed slightly bearish, the candle signaled a potential bottom in the short-term. He also noted that his attention will remain on the intraday chart for potential scalp opportunities once the current position is secured.