Chainlink LINK Technical Analysis: Bullish Momentum Builds as Price Holds Above Key EMAs, $30 Target in Focus

Chainlink (LINK) demonstrates resilience at $23.27 despite an 8% weekly decline, maintaining its position above critical exponential moving averages. The 20, 50, 100, and 200-week EMAs—positioned at $19.7, $17.6, $15.9, and $13.8 respectively—create a strong bullish technical foundation for the asset.

Market structure indicates potential upside toward the $27–$32 range if resistance levels are successfully breached. Momentum indicators further support this optimistic outlook: the RSI registers at 59, comfortably within bullish territory, while the MACD shows an upward slope with positive histogram readings. LINK is currently testing the upper Bollinger Band at $27.28.

A close below the $19.7–$18.3 support zone WOULD be required to threaten the current uptrend. The asset continues to trade within its established range, with recent price action favoring another test of upper resistance levels, positioning LINK for potential breakout momentum.