Chainlink (LINK) Tests New Highs as Momentum Remains Bullish

After spending the mid-April covered back

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies.Grow your IRA or 401(k) with Crypto – unlock the power of DEFI, crypto futures and a Crypto IRA within your retirement account.

Chainlink (LINK) has been a subject of interest among crypto traders, especially with the recent surge in price. Benzinga covered analysts' predictions for Chainlink to hit $20 by the end of the year, a target that now seems within reach.

The implications of LINK breaking a key resistance level on the weekly chart could be significant for the technical structure and the continuation of the long-term uptrend.

If the price closes the week above the highlighted level at $15.989, it could confirm a change in structure and open the door for further gains.

On the daily chart, the structure remains bullish, with a pattern of higher highs and higher lows still intact. The time frame also shows a key fib level that could provide support if needed.

After a strong period of momentum, the recent after-hours pullback might be a factor to watch, especially as it coincides with a broader altcoin market pullback.

After testing a prior high of $15.989, Chainlink pulled back slightly but managed to hold above the key level.

If this level holds into next week, it could confirm a significant structure shift.

The structure on the daily chart remains bullish, with a pattern of higher highs and higher lows still intact.

The time frame also shows a key fib level that could provide support if needed.

While the near-term momentum is strong, the recent after-hours pullback might be a factor to watch, especially as it coincides with a broader altcoin market pullback.