Chainlink (LINK) Looks Strong But This Key Level Must Hold for a Breakout

Chainlink is looking ready for the next bullish move, according to a chart shared by analyst Crypto_ED (@Crypto_ED7) on X. The LINK price is currently trading at around $15.86 and showing signs of strength after a clean breakout from its long-standing downward trend.

Chainlink (LINK) is showing signs of strength above a key support level, which could be crucial for the next breakout.

Chainlink price action is looking interesting, according to chart shared by analyst Crypto_ED (@Crypto_ED7) on X.

Chainlink Could Breakout From Key Support

The analyst noted that LINK has broken out of a descending channel and pulled back to retest the $15.00 zone, which previously acted as resistance.

This area has now flipped into strong support, confirming what traders look for in a healthy bullish structure.

“This is the type of price action bulls want to see – breakout, retest, and now strong hold. Also note the volume on the green candles showing buyers stepping in aggressively.”

According to Crypto_ED, if the LINK price can close above 16.50 on the daily chart, it could open the door for a rally toward the $18 and $20 levels.

The structure is intact and the path higher looks promising as long as price continues to hold above the key $15 level.

suggest that momentum is turning back in favor of the bulls.

This setup gives further confirmation that momentum is turning back in favor of the bulls.

The post Chainlink Looks Strong But This Key Level Must Hold for a Breakout appeared first on Tokenist.