- Chainlink (LINK) remains in a bullish long-term macro structure despite recent corrections.
- The current price action around $12.57 is at a crucial decision point and testing the key support levels.
- A potential move towards $46 per coin could occur if LINK resumes its historical accumulation-to-momentum cycles.
Chainlink has been moving through a broad uptrend channel since mid-2023, with the price repeatedly finding support on pullbacks before moving higher. The weekly charts show one thing clearly: periods of varying prices, followed by rapid and strong upward movements.
These areas on the side are reaccumulation and not distribution; the large buyers will therefore absorb the supply before the price rises. By the end of 2023, the LINK network left the long accumulation zone and increased in value by approximately 138%.
A correction then occurred, and the token remained above the rising trendline, setting off a new strong trend in 2024 to reach $31 and rise 142% from the last base. A strong peak was avoided because each peak was accompanied by the rising resistance line, creating a rising channel.
Chainlink faces broad accumulation after price drop
In 2025, Chainlink has remained within a wide trading range as prices failed to sustain at higher levels. LINK is currently at $12.57, which is a crucial level at the 0% Fibonacci retracement level of the last move. Historically, this level has played a crucial role in determining whether the trend will continue or worsen.
The Zeierman Range Oscillator is under significant selling pressure at -86 and is oversold. There may be a temporary correction, but to reverse the trend, prices must return to higher demand zones. There have been some fast descents with steep fuses, which have been immediately reversed. This indicates a liquidation wave rather than a trend reversal.
However, the reversals have remained below previous resistance levels, indicating that buyers are still nervous. To be positive, it is crucial to stay above the $14-$15 level and break above the $16-$18 level, which was a support level that has now become a resistance level.
A healthy market structure supports profits
If LINK continues its trend of gradual accumulation and sudden increases, it could rise close to the top channel around $46. This would mean growth of around 270% from the lows, as in recent phases. Analysts are optimistic about the overall trend, which shows normal corrective moves and smooth increases.
Also Read: Chainlink (LINK) Shows Bullish Momentum with $16 Resistance in Focus
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