Price Analysis

Chainlink Price Hints 20% Upswing Amid Key Resistance Breakout

The chainlink price rebounded from the key Fibonacci support and is heading close to the monthly resistance to bolster further recovery.

Published by

Sahil Mahadik

Updated 01 Aug, 2025 | 12:08:04 PM UTC

Chainlink Price Hints 20% Upswing Amid Key Resistance Breakout

Highlights

The LINK price may extend the current correction trendline until a downsloping trendline is intact.
Amid the recent price jump, the Chainlink coin attempts to regain the 200-day EMA slope to bolster its recovery rally.
The intraday trading volume in the LINK coin is $412.5 Million, indicating a 68% gain.

Following the Fourth Bitcoin Halving on Friday, the cryptocurrency market experienced a broad recovery rally, with significant gains across major coins. By Monday, Bitcoin had surpassed the $65,000 mark, reinforcing the momentum of recovery in the altcoin sector. In this upbeat market environment, the Chainlink price rallied from its $12.75 support level, posting a 20% increase to hit $15.3. With this post-halving surge, can the LINK price exceed $20 in April?

Also Read: Crypto Price Prediction 4/22: Bitcoin Above $65k Sparks Fresh Relief Rally

Is Chainlink Price Heading to $20?

Chainlink Price| Tradingview

The near-term trend in Chainlink price is bearish evidenced by the downsloping trendline in the daily chart. The dynamic resistance plunged the coin value from $22.8 to $11.78, registering a 48% loss.

Amid the Bitcoin halving, the LINK price stalled its correction at $12.7, above the 61.8% Fibonacci retracement level. In theory, this level stands as a crucial support level for buyers to reclaim trend control.

Following five consecutive green candles on the daily chart, the Chainlink coin has rebounded to $15.37, boosting its market capitalization to $9.028 billion.

If the bullish momentum persists, the LINK price could rise another 5% this week to rechallenge the overhead trendline. A potential breakout from this barrier will signal the end-of-correction trend and favor buyers for a higher rally.

The post-breakout rally could bolster buyers to chase potential targets of $18.6, followed by $20.7, and $22.8.

On a contrary note, if the supply pressure at the resistance trendline persists, the LINK coin could revert lower and tease a breakdown below $12.7 support.

Also Read: Bitcoin and Ethereum Bleed $226 Million In Outflows, CoinShares Report

Technical Indicator

Exponential Moving Average: The downsloping 50-day EMA slope offers additional resistance to lead the near-term bearish trend.
Moving Average Convergence Divergence: A bullish crossover between MACD(blue) and Signal(orange) lines indicates a renewed recovery in the market.

Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by

Sahil Mahadik

Updated 01 Aug, 2025 | 12:08:04 PM

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