Chainlink has recently found itself at a critical juncture, tapping the lower boundary of a multi-month descending channel after slipping from its range highs. With the current price at $11.82, and a slight dip in market cap to $8.01 billion, market participants are closely watching for signs of a trend reversal. If you are one of the many, who is keen on Chainlink price analysis, then this one is a must-read for you.
Chainlink (LINK) Price Analysis:
The LINK daily price chart reveals that the token has formed a rounded base pattern after testing support around $11.00. This bounce, coupled with a slight gain on the day, hints at early bullish momentum building in the background.
Technically speaking, the Bollinger Bands have widened, and LINK has now begun to rebound from the lower band at $11.51, moving toward the midline at $13.36. A sustained move above the $12.00 level could open the door for a run toward the $13.20–$13.50 resistance zone.
If buyers maintain pressure, LINK could break above the $13.36 mid-Bollinger resistance. However, a failure to hold above $11.50 could trigger another leg downward, retesting the $11.00 support zone.
The RSI is currently at 33.63, just above oversold territory. This suggests that the asset may be undervalued at current levels and could attract dip-buyers. Moreover, the RSI appears to be flattening out, showing signs of potential upward momentum.
Also read our Chainlink (LINK) Price Prediction 2025, 2026-2030!
FAQs
Chainlink is showing early signs of a bullish reversal after bouncing off long-term support.
If momentum continues, LINK could target the $13.20–$13.50 resistance zone next.
The price of 1LINK token at the time of press is $11.82 with an intraday price change of 0.39%.
