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- Chainlink is testing the $18 Bull Market Support Band, a key level that, if maintained, could confirm an uptrend and push the price toward $25 in the near future.
- LINK is currently priced at $18.80, showing a 0.36% increase in the last 24 hours after dropping by 7.78% over the past week.
Chainlink (LINK), a blockchain oracle protocol, is currently testing the Bull Market Support Band (BMSB) around $18, a critical level that has historically indicated the strength of the long-term trend. If LINK maintains support above the $18 BMSB, it could attract more buyers and push the price to potential targets above $25 and possibly to its all-time high of $52.70.
During its previous bull run, LINK consistently bounced off or stayed above the BMSB, with significant price appreciation. The coin gained momentum as it held this crucial support level. Conversely, periods where LINK tested or fell below these levels, like in late 2018 and 2022, marked points of retracement before a subsequent rally. In early 2025, LINK showed strength by reclaiming the 21-week simple moving average (SMA), signaling the possibility of further price increases.
Potential for Price Pullbacks and Support Zones
If LINK fails to maintain its position above the $18 level, it may face a retest of lower support zones, particularly near $14, which has previously acted as an accumulation area. Analyzing LINK’s market indicators, the LuxAlgo structure break reveals a long tail on LINK’s daily chart, signaling growing buyer interest as the price quickly bounces back from the tested support. This movement further strengthens the bullish sentiment. Key resistance levels to watch are $22 and $25.
The MACD indicator shows rising bullish momentum as it crosses above the signal line at $18. However, low volume suggests stronger buying pressure is needed to sustain the move. If volume increases, LINK could rise toward higher targets, but a decline in the MACD histogram could signal a slowdown, risking pullbacks to $17 or $15.
At the current price of $18, 76.79% of addresses are ‘in the money,’ meaning that the majority of holders are currently profitable at this price level. This large proportion of profitable addresses reinforces the idea that LINK has significant backing at this price, making it more likely for the price to remain above this level.
Meanwhile, 15.73% of LINK addresses are “out of the money,” meaning some holders are facing losses. This could lead to increased selling pressure as investors look to cut losses, which may make it difficult for LINK to maintain its position above $18.
According to Santiment, Chainlink has experienced significant whale activity, with 1,659 daily transactions over $100,000, the highest in 14 months, and 9,531 active wallets, the most seen in four weeks. Despite this, LINK is trading 64% lower than its all-time high of $52 in 2021. Over the past 14 days, LINK has lost 20% of its value, bringing its trading volume to $433 million. Currently, Chainlink holds the position of the 11th largest cryptocurrency with a market cap of $12.77 billion.
