Chainlink LINK Stuck in Critical Accumulation Zone as Market Awaits Breakout Signal
Chainlink's price remains constrained below the $16-$20 resistance zone, trapped under a descending trendline that has defined its bearish structure since the last cycle high. The cryptocurrency continues to test a critical demand area between $11.80 and $12.00, where buyers have consistently emerged to prevent deeper losses.
Technical analysts observe tightening volatility across timeframes, suggesting an impending expansion. The current compression phase may precede either a decisive breakout or breakdown, with the $12 support and $16 resistance acting as key inflection points. Elliott Wave theorists identify this as potentially the final corrective wave before a new base formation.
Market participants are watching for a clear reclaim of the $16 level, which could open the path toward $25. Until then, LINK appears caught in a strategic accumulation phase, with neither bulls nor bears establishing dominance.
