- Chainlink is holding above $13 and showing signs of a strong bullish reversal with a potential move toward $32.
- Analysts highlight key breakout patterns, including a double bottom and falling wedge that support further price gains.
Chainlink (LINK) is gaining traction in the cryptocurrency market as it continues to trade above a critical support level. The token is trading at around $14.28 at press time and has recorded just below 3% gains in the past 24 hours, and it is about 4% higher on the week. Analysts believe this momentum can surge steeply if LINK maintains its positioning above the $12.50 mark.
According to analyst Ali, this arrangement suggests a bullish action, with the token transiting in a multi-month ascending channel. A continued upward move above $14.65 has the potential to break out and reach the next price target of $18, and potentially even higher, up to $32.
Technical indications are aligning with these predictions. During the weekly time frame, LINK displays a bearish double-bottom formation that is traditionally regarded as a signal of powerful bullish trends. The analyst mentions that the trend is still emerging and could be strengthened once LINK rises above $18 and uses it as a support line.
The price framework demonstrates a plunging wedge shape- a typical bullish reversal pattern. LINK has consolidated in this wedge, and as it approaches the pattern’s apex, expectations of a breakout have been increasing. A decisive break to go over $16 and the 200-day EMA would indicate a change of the wider trend.
Accumulation Phase Signals Structural Shift
Crypto analyst Henry Lord says Chainlink has come out of its downtrend into a new accumulation phase. According to him, these zones are what precede the loudest moves. He predicts LINK to move out to $25- $30 should the momentum be sustained.
Market observer Jacob James also said that the token has remained at the support level of $13 and has repeatedly tried but failed to make the price drop. LINK is currently following the consolidation pattern at a range of between $13.31 and $13.35. This small price range, accompanied by rising buying volume, indicates that the market is gearing up to break out.
$LINK has finally stabilized after a long downtrend
Strong support held and price is now forming a base above $13+
Structure is shifting a breakout could trigger a sharp rally!
Momentum building, bulls may take full control from here pic.twitter.com/uWDqId8PMX
— Jacob James (@Jacob_james656) July 8, 2025
The 50-day simple moving average currently sits near $13.50 and is short-term support. Holding this level is critical. A move beyond immediate resistance at $14.65 would signal renewed strength, opening the door to the $17–$18 range. Above that, momentum could carry LINK to $25 and beyond.
Bullish Targets Emerge Amid Mixed Market Conditions
While overall crypto market sentiment has been cautious due to renewed tariff concerns, LINK appears to be defying broader bearish trends. Alex Clay, a leading market analyst, identified a descending broadening wedge in LINK’s chart, with potential targets at $17.50, $19.30, and $26.00.
#Chainlink Daily Timeframe#LINK is preparing a breakout of the Descending Broadening Wedge formation📈🧐
This is a Mid-Term Setup. Long-Term I am also bullish for $LINK🐃
🎯1 Target – 17.50$
🎯2 Target – 19.30$
🎯3 Target – 26.00$$LINK pic.twitter.com/yebf0gkSAq— Alex Clay (@cryptclay) July 7, 2025
According to Clay, LINK’s volume activity supports a bullish outlook. Green daily candles and strengthening momentum indicators back this perspective. With the asset now trading above short-term moving averages, market participants are closely watching for a confirmed breakout.
Despite trading below the 200-day EMA, the recent chart developments and accumulation phase suggest Chainlink may be on the verge of a strong price movement. Analysts argue that once LINK clears $16, a path toward its yearly high near $32 could become increasingly viable.
Chainlink’s current market capitalization stands at $9.68 billion, with over $500 million in daily trading volume. The strong liquidity base and positive technical patterns have reignited investor interest as July progresses.
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