crypto-news-flash.com
- Chainlink is holding above $13 and showing signs of a strong bullish reversal with a potential move toward $32.
- Analysts highlight key breakout patterns, including a double bottom and falling wedge that support further price gains.
Chainlink ($LINK) is gaining traction in the cryptocurrency market as it continues to trade above a critical support level. The token is trading at around $14.28 at press time and has recorded just below 3% gains in the past 24 hours, and it is about 4% higher on the week. Analysts believe this momentum can surge steeply if $LINK maintains its positioning above the $12.50 mark.
According to analyst Ali, this arrangement suggests a bullish action, with the token transiting in a multi-month ascending channel. A continued upward move above $14.65 has the potential to break out and reach the next price target of $18, and potentially even higher, up to $32.
Technical indications are aligning with these predictions. During the weekly time frame, $LINK displays a bearish double-bottom formation that is traditionally regarded as a signal of powerful bullish trends. The analyst mentions that the trend is still emerging and could be strengthened once $LINK rises above $18 and uses it as a support line.
The price framework demonstrates a plunging wedge shape- a typical bullish reversal pattern. $LINK has consolidated in this wedge, and as it approaches the pattern’s apex, expectations of a breakout have been increasing. A decisive break to go over $16 and the 200-day EMA would indicate a change of the wider trend.
Accumulation Phase Signals Structural Shift
Crypto analyst Henry Lord says Chainlink has come out of its downtrend into a new accumulation phase. According to him, these zones are what precede the loudest moves. He predicts $LINK to move out to $25- $30 should the momentum be sustained.
Market observer Jacob James also said that the token has remained at the support level of $13 and has repeatedly tried but failed to make the price drop. $LINK is currently following the consolidation pattern at a range of between $13.31 and $13.35. This small price range, accompanied by rising buying volume, indicates that the market is gearing up to break out.
$LINK has finally stabilized after a long downtrend
Strong support held and price is now forming a base above $13+
Structure is shifting a breakout could trigger a sharp rally!
Momentum building, bulls may take full control from here pic.twitter.com/uWDqId8PMX
— Jacob James (@Jacob_james656) July 8, 2025
The 50-day simple moving average currently sits near $13.50 and is short-term support. Holding this level is critical. A move beyond immediate resistance at $14.65 would signal renewed strength, opening the door to the $17–$18 range. Above that, momentum could carry $LINK to $25 and beyond.
Bullish Targets Emerge Amid Mixed Market Conditions
While overall crypto market sentiment has been cautious due to renewed tariff concerns, $LINK appears to be defying broader bearish trends. Alex Clay, a leading market analyst, identified a descending broadening wedge in $LINK’s chart, with potential targets at $17.50, $19.30, and $26.00.
#Chainlink Daily Timeframe#$LINK is preparing a breakout of the Descending Broadening Wedge formation📈🧐
This is a Mid-Term Setup. Long-Term I am also bullish for $LINK🐃
🎯1 Target – 17.50$
🎯2 Target – 19.30$
🎯3 Target – 26.00$LINK pic.twitter.com/yebf0gkSAq— Alex Clay (@cryptclay) July 7, 2025
According to Clay, $LINK’s volume activity supports a bullish outlook. Green daily candles and strengthening momentum indicators back this perspective. With the asset now trading above short-term moving averages, market participants are closely watching for a confirmed breakout.
Despite trading below the 200-day EMA, the recent chart developments and accumulation phase suggest Chainlink may be on the verge of a strong price movement. Analysts argue that once $LINK clears $16, a path toward its yearly high near $32 could become increasingly viable.
Chainlink’s current market capitalization stands at $9.68 billion, with over $500 million in daily trading volume. The strong liquidity base and positive technical patterns have reignited investor interest as July progresses.