- Chainlink reclaims $6.87 support, targets $13.12 resistance with bullish trader positioning above 75% long exposure.
- Fibonacci points to $81.29 as Chainlink’s long-term target, with $24.99 critical for trend continuation.
- Binance top traders maintain a 3.20 long/short ratio, supporting Chainlink’s upward momentum amid rising accumulation.
Chainlink (LINK) is reclaiming key technical levels amid rising accumulation from top Binance traders. The asset’s price structure signals a bullish continuation phase if current resistances are cleared.
Technical compression tightens around key breakout levels.
LINK is consolidating beneath a critical resistance zone after reclaiming the total range point of control, according to analyst Lennaert. Bullish trader positioning, Fibonacci extensions, and historical volume clusters all point to increasing upward pressure. Lennaert’s projections now frame several upside milestones based on market structure and long-term chart behavior.
As price reclaims resistance, Lennaert notes Chainlink’s structure shows strength above the $6.87 accumulation base. According to Lennaert, the chart reclaims its range POC and now holds firm against the $8.02 resistance level. He also noted this zone acts as a pivot, tested multiple times through 2022 and early 2024. The next key target is $13.12, where historical supply previously halted upward movement.
Using Fibonacci extensions, Lennaert adds that the $81.29 level sits at the 1.618 extension from historical lows. Intermediate targets include $17.74, $24.99, and $33.87, with the $24.99 zone being crucial for trend continuation. He also emphasized the volume-weighted range between $6 and $8, where long-term demand has remained consistent. These base levels support the current consolidation as LINK prepares for another leg higher.
In addition, the bullish scenario shows a clean structure of higher lows since early 2023. Could this higher low mark a directional shift if confirmed above $13.12? The chart also features a yellow trajectory line projecting a steady rise, supported by macro-level accumulation and trend-following indicators. Even so, a failed breakout and drop below $8.02 could shift price action into a prolonged consolidation range.
Bullish bias reflected in trader positioning
Chainlink’s upward move is also supported by Binance’s top trader sentiment, where long exposure continues to dominate. CW reports that LINK’s long position ratio stands at 75.36%, showing conviction in bullish continuation. Long/short ratios fluctuated from 2.51 to 3.20 during May 13–14, mirroring shifting short-term sentiment.
Furthermore, long positions remained near 70% on both “Accounts” and “Positions” charts. This created a strong positive skew in trader bias, despite temporary dips. Are RSI and MACD aligned to confirm momentum continuation at current levels? Volume activity remains stable, validating trader interest around support zones. At the same time, sustained long interest could signal confidence ahead of resistance retests. As the structure compresses under $13.12, breakout risk and upside potential continue rising.
