- Chainlink defends 0.618 Fib support at $15.05, keeping the long-term bullish channel alive with $29–$46 targets on the horizon.
- MACD crossover and rising RSI signal momentum shift; a clean break above $17 could ignite a rally.
- A Breakout above year-long trendline may fuel LINK’s next leg toward $32 and beyond.
Chainlink (LINK) is showing signs of a strong comeback as it holds key support near $15. With bullish momentum building, analysts now eye explosive upside targets at $32, $46, and $51
Fibonacci Levels, Ascending Channel Hold Strong
According to a 3-day analysis shared by Ali Charts on X, LINK remains inside a well-established ascending channel. The $13 support line continues to hold firm, keeping the $46 price target in sight.
At press time , LINK is trading around $16.45 after a 3.86% daily drop. Price action has bounced just above the 0.618 Fibonacci level at $15.05—a zone typically associated with bullish retracements.
Ali’s chart outlines the potential for a move toward $20.12 and $29.11 if LINK maintains the higher lows pattern. A breakdown below $15 could send prices toward $12.27 or even $10, where the retracements converge with the lower channel boundary.
Short-Term Indicators Signal Reversal Potential
On a 4-hour Uniswap V3 chart, LINK is priced around $16.76. The MACD signals are bullish, and the histogram has turned green. This crossover is often a sign of renewed buying interest. RSI currently stands at 53.17, showing a gradual rise from oversold territory. The uptick in RSI supports early signs of momentum recovery.
Source GeckoTerminal
Volume, although below peak levels, has ticked up modestly to 740K. A breakout above $17, backed by rising volume, could push LINK to the $18–$18.50 zone.
Breakout from Long-Term Downtrend Validates Bull Case
Solberg Invest also posted a daily chart of LINK/USD on X showing a confirmed breakout from a year-long descending trendline. The breakout above this resistance, now being retested, adds weight to the bullish outlook. Key targets ahead include $32—previous resistance—and $51, a multi-year level.
As long as LINK holds above the $14–$16 support band, the breakout remains valid. A move past $21.66 would confirm a new leg up in the bullish cycle.
