Chainlink Surges Above Key Support, Analyst Eyes $18 Target
Chainlink (LINK) is gaining momentum after holding above a key support level, sparking fresh optimism among traders and analysts.
Crypto market analyst Ali highlighted in a recent post that if LINK sustains its position above $12.50, it could open the door for a strong rally toward the $18 mark, citing technical patterns from a multi-month ascending channel.
Currently trading at $14.28, LINK has gained nearly 3% in the last 24 hours and is up close to 4% over the past week, according to market data. The token also boasts a market capitalization of $9.68 billion with a 24-hour trading volume exceeding $500 million, signaling renewed interest from both retail and institutional participants.
The bullish sentiment aligns with Chainlink’s broader positioning as a leading data infrastructure provider for real-world assets (RWA) and decentralized finance, which has seen increased attention in recent months. A breakout above the current levels may trigger a fresh wave of buying, especially as the token approaches mid-range resistance levels on the channel chart shared by the analyst.
While momentum appears to favor the bulls, market participants are advised to monitor for potential resistance around the $16–$18 range, as previous attempts to break higher earlier in the year met significant selling pressure.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
