Chainlink’s price is testing critical support at $21, aligned with the 0.618 Fibonacci retracement and moving averages. Holding this region could fuel a bullish rotation toward $26 and $30.
Summary
- Chainlink is approaching critical support at $21, backed by 0.618 Fibonacci and moving averages.
- A reclaim of $26 resistance is required for continuation.
- Upside rotation toward $30 depends on bullish volume influxes.
Chainlink (LINK)is approaching a decisive support level as price action retests $21 on the higher time frame. This level aligns with multiple technical factors, including the 0.618 Fibonacci retracement and key moving averages. Adding to momentum, Chainlink has gained its first corporate treasury client after a real estate firm pivoted to crypto adoption. With market structure still intact, LINK has the potential to sustain its bullish bias and rotate toward higher resistance levels if support holds.
Chainlink price key technical points
- Support at $21: Confluence of 0.618 Fibonacci retracement and moving averages.
- Resistance at $26: Must be reclaimed for continuation toward the swing high at $30.
- Volume Profile Decline: Healthy cooldown, with influxes required on retest to confirm upside move.
The $21 level has emerged as the most critical support in the current structure for Chainlink. This zone has already acted as a strong base in prior consolidations, and its overlap with both the 0.618 Fibonacci retracement and moving averages strengthens its technical significance. The series of higher lows established since the swing low continues to validate a bullish structure on the higher time frame.
For the bullish scenario to remain intact, LINK must not only hold $21 but also reclaim resistance at $26. This level has historically capped upside attempts, making it a pivotal threshold for continuation. A successful reclaim backed by bullish inflows would set the stage for a full rotation toward the swing high at $30, confirming another higher low in the structure.
The volume profile shows a steady decline as price approaches support, which can be considered healthy. This cooling phase reduces overextension and allows momentum to reset. However, for the next bullish leg to unfold, volume inflows must return at the retest of $21. Without this confirmation, the setup risks stagnation, but with it, LINK could quickly reclaim resistance and extend higher.
What to expect in the coming price action
As long as LINK remains above $21, the bullish market structure remains intact. Traders should watch for a retest of this level with strong volume support. A reclaim of $26 resistance would confirm momentum for a rotation toward $30, solidifying another higher low and sustaining the broader bullish outlook.
