Chainlink Holds Strong Above Critical Support – $20 Target in Sight for Bulls

Chainlink defies gravity as it consolidates above key support levels—bulls are loading up for a potential assault on the $20 range.

Why $20 matters: Breaking this psychological barrier could trigger a fresh wave of FOMO among traders who missed the last rally. Meanwhile, skeptics whisper about 'irrational exuberance'—but since when has that stopped crypto markets?

The oracle network's resilience comes as traditional finance struggles to explain why their 'stable' assets yield less than a DeFi staking pool. Chainlink's smart contract integrations keep growing while bank APIs collect dust.

One thing's certain: if LINK punches through $20, the shorts will bleed. Again.

Chainlink Builds Momentum

Chainlink has seen a strong resurgence over the past two weeks, gaining more than 22% in value since June 22. After months of consolidation and sideways action, the recent price movement suggests that bullish momentum is returning to the altcoin. The broader market environment is improving, with Bitcoin nearing its all-time high and risk appetite gradually increasing across crypto assets. For Chainlink, this has translated into renewed Optimism and a growing expectation of a breakout.

Fundamentally, Chainlink remains one of the most important infrastructure projects in the crypto space. Its partnerships with high-profile projects such as Ripple and Ondo Finance highlight its crucial role in powering real-world asset tokenization and secure on-chain data feeds. These integrations support long-term utility and demand, reinforcing investor confidence in the project’s future.

Ali Martinez emphasized that holding above the $12 level is key for Chainlink. According to his analysis, sustained price action above this zone could pave the way for a breakout toward the $18–$20 range. Historically, LINK has shown strong impulsive moves after breaking major consolidation zones, and the current structure appears similar.

LINK Consolidates Below Resistance

Chainlink is currently trading at $13.32 after facing a minor rejection from the $14 zone. The chart shows that LINK remains in a consolidation range that began in early March, with price action confined between the $12.20 and $14.50 levels. The token has made multiple attempts to reclaim the 50-day and 100-day moving averages, both of which now sit just above the current price action. These moving averages, along with horizontal resistance around $14, are acting as a strong ceiling for now.

Despite the recent pullback, LINK remains structurally bullish on the mid-term as it prints higher lows since the June bottom NEAR $11. Analysts remain optimistic that a decisive close above $14–$14.50 would invalidate this range and pave the way for a push toward the $16–$18 zone.

The 200-day moving average near $16.77 remains a key target in the event of a breakout. However, failure to reclaim $14 could lead to another test of support around $12. Overall, the setup remains constructive but will require renewed bullish momentum—possibly led by bitcoin strength or positive ecosystem news—for a breakout confirmation. Until then, LINK continues to oscillate in a tight range, with bulls watching closely.

Featured image from Dall-E, chart from TradingView