Chainlink (LINK) is greatly developing bullish strength because its market price is currently at $18.55. Its 24-hour volume is valued at $1.45 billion, and its market capitalization is valued at $12.58 billion.
LINK has gained 8.33% in price in the past 24 hours, and weekly fluctuations have reached 19.32%, indicating growing market focus and future price increase potential.
The LINK/USDT daily chart indicates an abrupt uptrend after an elongated stretch of consolidation around the $15 mark. Prices began forming a series of higher highs and higher lows, a sign of good bullish structure.
There has been a breakout as LINK has jumped above the $17 mark, even reaching prices above $19. There has been an accompanying abrupt increase in volume as the price has moved higher, showing an uptick in purchase pressure.
After a small correction noted by two red candles around the $19.20 mark, mostly due to temporary profit-selling, the overall picture remains decidedly bullish.
Also supportive is the area around the $17.50 and $16.80 levels. As long as LINK is above these levels, the setup is for further upside movement. Should the token hold off a bout of consolidation above the $18.50 mark and take out the $19.20 hurdle, another step up is highly probable.
Analyst predicts LINK price rally ahead
Popular crypto analyst Ali has also mentioned LINK’s technical setup, stating that the token is due for a breakout. He set an initial target of $22 and expects LINK to reach $28 soon if buying pressure continues.
More technical analysis of charts shows that LINK has continued to climb from the area of $13–$15 and is currently testing an essential resistance area of approximately $18.
This price has, on several occasions, served as an area of rejection, hence the special significance of the present movement. Confirmation of the daily close above the area would not only affirm the breakout on the bullish front but would also pave the way to the higher goals of $21, $24, and ultimately $28.
Conversely, an inability to break that barrier could induce a short-term retreat, even back down to support near $15 or as far back as $13.40, where there is past consolidation and buying interest.
LINK shows strong buyer interest and positive momentum, positioning it to challenge resistance and extend its short-term rally.
