Chainlink has climbed 6% in the past 24 hours, setting the stage for further upside if current technical indicators and price structure continue to align. Strong market structure, rising demand, and reclaiming critical levels are creating an environment where LINK could extend its rally significantly.
Summary
- Support Base: Rally started from $9.49 support after reclaiming key levels.
- Resistance Test: Facing $24.88 resistance; breakout could target $33.75.
- Volume Strength: Bullish volume suggests demand for higher prices.
After rebounding from a high time frame support at $9.49, Chainlink (LINK) has sustained a bullish uptrend over the past several days. The reclaim of both the value area low and the point of control (POC) provided the foundation for the current rally, pushing LINK into an aggressive upward rotation. Price now trades above the value area high but is contending with a major resistance barrier at $24.88. The ability to break above this level could open the door for a much larger move into higher targets.
Key technical points
- Strong Support Base: $9.49 HTF support initiated the current rally and remains a critical structural floor.
- Major Resistance: $24.88 resistance is capping price action; a breakout could accelerate momentum toward $33.75.
- Volume Profile: Healthy bullish inflows signal continued demand, supporting the case for further upside.
Chainlink’s bullish momentum began when price reclaimed the value area low in conjunction with the POC. This technical alignment sparked a series of higher highs and higher lows, signaling the shift into an uptrend on larger time frames. Since then, the asset has respected each retest of structural support, reinforcing the strength of the rally.
The current obstacle sits at $24.88, a historically significant resistance that has already prompted a dollar-level rejection. This confluence with the value area high underscores its importance. Should LINK break and close above this level on a daily basis, it would likely trigger an accelerated move toward the $33.75 HTF resistance. This level coincides with a previous swing high, and a breakout there would confirm a fresh market expansion phase.
From a volume perspective, LINK’s profile shows bullish influxes during key price advances. These spikes in buying pressure reflect strong participation from market participants and bolster the probability of sustained upside. Maintaining this healthy volume dynamic is essential for the rally to continue and for resistance levels to be decisively breached.
What to expect in the coming price action
If LINK can hold above its current breakout zone and close decisively over $24.88, the next technical target lies at $33.75. Breaking that level would establish new swing highs and potentially trigger a broader bullish continuation.
Failure to hold above current levels could see a short-term retest of the POC or value area low before another upside attempt. Overall, the structure remains bullish, with higher levels likely if resistance gives way.
