- Chainlink hovers near a crucial $12 support within a bullish falling wedge, with rising volume hinting at a breakout.
- Despite a 60% drop from its December peak, analysts see potential for a rally targeting $15 to $26.50.
In the middle of a sluggish crypto market, Chainlink (LINK) once again is under the spotlight. The token recently took a 4% dip, and yet, analysts believe this could just be the calm before a bullish storm. As other major players like Bitcoin hover—stuck under $84,000—eyes are now shifting toward LINK’s next move.
Recent data has painted a choppy 30-day scenario for Chainlink, showing a more than 11% decline. But zooming in, there’s been an 8% gain over the past week before it slipped again within the last 24 hours, now trading at $12.20. Despite its current pullback, one analyst notes the $12 mark sits at a crucial Fibonacci retracement level, and holding that support could set the stage for a major upswing.
But LINK isn’t just any coin floundering in rough waters. Even after plunging about 60% from its December 2024 peak of $27, the market sentiment hints that it might just be gearing up for a reversal. If support fails, though, analysts caution the price could dip as low as $7.50. The next few trading days could decide if LINK rebounds or breaks.
LINK Nears Breakout as Falling Wedge Tightens
Technicals are adding fuel to the fire. The daily chart is flashing what many consider a bullish reversal signal: a falling wedge. LINK now sits at the upper trendline of that wedge pattern, with volume quietly rising in the background. A breakout from this setup is often followed by a strong price run-up.
Crypto analyst Crypto Ahmet even goes beyond the $20 mark and predicts that Chainlink ($LINK) is testing the upper trendline of a falling wedge pattern with rising volume, signaling a possible breakout. The optimism isn’t just based on vibes. A breakout here could open the floodgates to targets at $15.40, $17.50, $20.00, $23.80, and even $26.50.
Volume is the name of the game right now. If the breakout happens with strong volume, it could shift LINK from bearish limbo into a strong upward trend. And that potential move toward $20? It’s not just speculation—it’s a level being eyed by multiple market participants as a short-term target.
Economic Clouds and Crypto Clarity
2025 hasn’t exactly been kind to the financial markets. With global trade tensions and tariff battles escalating, investors have had little to cheer about. The US economy is staggering, and the broader market has mirrored that uncertainty. LINK’s journey is unfolding against that backdrop, which only heightens the stakes.
Yet despite all the pressure, the crypto space is showing flashes of life. In fact, LINK’s potential rally could act as a spark for wider market interest. The coin’s consolidation and technical setup are giving bulls a glimmer of hope. With the price still in the falling wedge and volume creeping upward, the breakout might not be far off.
What’s next for Chainlink hinges on two simple things: the strength of its current support around $12 and whether volume continues to rise. If those two factors hold, the road to $20 is wide open. And if the breakout gets confirmed, that road could stretch much further.
