Chainlink Shatters Resistance: Traders Eye $32 as Rally Accelerates

Chainlink's price breakout isn't just a blip—it's a full-throttle surge that's got crypto traders buzzing. The oracle network's token smashed through key resistance levels, setting the stage for what could be its most explosive run since 2024.

Why $32 matters

That magic number isn't just plucked from thin air—it's the next major psychological barrier after LINK cleared its 2025 highs. Market structure suggests bulls aren't just testing waters here; they're building a launchpad.

Oracles eat first

While other altcoins waffle, Chainlink's real-world utility as DeFi's backbone gives it staying power most 'meme coin of the week' projects can only dream about. (Take notes, Wall Street—this is how you build actual infrastructure.)

The closer: This isn't your 2021 hype cycle. With institutional adoption looming and LINK's tech stack maturing, even the skeptics are quietly recalculating their positions.

Currently trading around $15.35, chainlink price gained over 7% in 24 hours, driven by rising volume and strong structural support. Analysts highlighted clean breakout setups and an Elliott Wave pattern pointing to further upside.

Short-term targets hover around $14.90–$16.00, while long-term projections suggest a move toward $28–$32 if momentum continues. A confirmed higher low near $12 and sustained demand above $14.80 support these forecasts. With technical indicators, Chainlink price may be preparing for the next leg upward as investor interest builds across trading platforms.

Chainlink Price Breakout Fuels Rally With Traders Targeting $32

Chainlink (LINK) Price has moved decisively above key resistance levels, prompting technical analysts to project further gains in the coming days. The token surged 7.37% over the last 24 hours to trade NEAR $15.35, backed by increased volume and sustained bullish structure.

According to data from TradingView, chainlink Price formed a clear upward trajectory from $14.00, breaking through several resistance points, including $14.50, and reaching a local high just below $15.40. The move was accompanied by a steady rise in volume, signaling increased participation rather than isolated trading spikes.

Source: BraveNewCoin

At the time of writing, Chainlink Price is consolidating just above the $15.00 zone. Analysts view this zone as an intraday support area, where the market is pausing to confirm buyer control before testing higher levels.

With LINK’s market capitalization now exceeding $10.41 billion, traders are closely observing whether the price can sustain above $15.00 and initiate a retest of the $16.00 psychological threshold.

Trader Rai Eyes $14.90 Short-Term Target

Analyst Trader Rai shared a chart setup, identifying a precise long entry opportunity at $14.691 with a stop loss at $14.675 and a target of $14.907. This setup followed a breakout above a tightly bound consolidation range between $14.30 and $14.50.

The breakout occurred with minimal retracement, pushing price into a bullish structure of higher highs and higher lows. According to the chart, the narrow stop loss window offered a favorable risk-reward ratio, reflecting confidence in a clean continuation MOVE toward the near-term target.

Source:X

The $14.60–$14.69 range is now seen as a demand zone, offering structural support for the ongoing bullish trend. As long as the price remains above this area, bulls could continue building momentum.

The entry window shared by Trader Rai reflects a strategy based on breakout-retest behavior, where prior resistance flips into support. Price action has hovered near this range during recent sessions, indicating that the zone may be confirmed as the new base for further upward moves.

Elliott Wave Setup Projects LINK to $32

Degencoder charted a breakout from a long-standing descending resistance, suggesting the end of Wave (2) and the beginning of a bullish Wave (3) based on the Elliott Wave model. The target for this next leg falls within the $28 to $32 range, with current price levels near $14.85 showing early signs of expansion.

Source:X

Wave (3) typically represents the strongest part of the cycle, often driven by increasing volume and institutional entry. The breakout occurred near the $12.00 base and aligns with a confirmed higher low.

The analyst notes that the breakout was accompanied by a Bollinger Band expansion, which may indicate growing volatility and trend strength. Technical confirmation of this wave structure could attract attention from both swing traders and long-term investors.

If the projected path unfolds, LINK may test the $28–$32 zone before undergoing a corrective move. The next support in that scenario could appear near $24–$26, which aligns with Wave (4) pullback levels.

Price Holds Gains With Support Near $14.80

ChainLink Price action during the July 10 trading session showed consistent strength, with the token advancing over $1.00 from session lows near $14.30. The climb was supported by strong intraday volume, and LINK ended the session near $15.35 after peaking around $15.40.

The $14.80 level now acts as short-term support if any retracement occurs. If ChainLink Price can maintain current momentum and stay above this support range, the projected targets of $16.00 in the near term and $28–$32 in the medium term remain viable technical zones.