LINK price holds near $22 support after a strong breakout above the descending trendline.
Immediate resistance is identified at $23.16, marking the upper boundary of the current trading range.
LINK has gained against BTC and ETH despite a 24-hour price decline of 3.2%.
Chainlink (LINK) has maintained strong momentum after breaking above a long-standing trendline, with price now stabilizing near the $22 range. The asset recently reached $22.13 before easing slightly by 3.2% in the last 24 hours. This decline follows a strong rebound that previously delivered more than 100% gains from its earlier breakout. Market attention is now fixed on how LINK will behave between its immediate support and resistance levels.
LINK Holds Support at $22 as Breakout Momentum Sustains Above Key Levels
At this point, LINK is only trading above its established support of $22.07 and the nearest resistance is just above, at $23.16. The small price gap points to a consolidation following a long-term rally that indicates traders are evaluating the direction in the near future.
It is important to note that LINK had previously shot up by ascending past its downward trendline on its previous levels of about $11.That breakout confirmed a shift in momentum, driving the token toward higher price areas.
Earlier trading patterns had formed a symmetrical triangle, with price coiling near the apex before the breakout occurred. Analysts observed that a temporary move near $12 acted as a shakeout before the sharp upside push. Once momentum accelerated, LINK moved decisively higher, clearing several resistance points along the way. This development has kept bullish structure intact, with buyers still in control of short-term market positioning.
Current Market Context and Price Behavior
Despite the current 24-hour decline, LINK remains well above prior consolidation levels. The setup continues to reflect stability after strong upward movement. Notably, LINK has increased by 1.7% compared to Bitcoin and 0.7% relative to Ethereum within the same period of time. This cross-market action highlighted the resistance despite traders keeping eyes on the $22 23 zone.
Source: (X)
As bulls protect and hold a tight range on the price, the focus now shifts to whether LINK will move to higher resistance. Chainlink remains stable after its breakout, holding above support while testing resistance. Price action reflects strong momentum, with traders closely monitoring the $22–$23 range for the next decisive move.
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Chainlink Consolidates At $22 After 3.2% Drop, Bulls Defend Support As $23.16 Resistance Looms
LINK price holds near $22 support after a strong breakout above the descending trendline.
Immediate resistance is identified at $23.16, marking the upper boundary of the current trading range.
LINK has gained against BTC and ETH despite a 24-hour price decline of 3.2%.
Chainlink (LINK) has maintained strong momentum after breaking above a long-standing trendline, with price now stabilizing near the $22 range. The asset recently reached $22.13 before easing slightly by 3.2% in the last 24 hours. This decline follows a strong rebound that previously delivered more than 100% gains from its earlier breakout. Market attention is now fixed on how LINK will behave between its immediate support and resistance levels.
LINK Holds Support at $22 as Breakout Momentum Sustains Above Key Levels
At this point, LINK is only trading above its established support of $22.07 and the nearest resistance is just above, at $23.16. The small price gap points to a consolidation following a long-term rally that indicates traders are evaluating the direction in the near future.
It is important to note that LINK had previously shot up by ascending past its downward trendline on its previous levels of about $11.That breakout confirmed a shift in momentum, driving the token toward higher price areas.
Earlier trading patterns had formed a symmetrical triangle, with price coiling near the apex before the breakout occurred. Analysts observed that a temporary move near $12 acted as a shakeout before the sharp upside push. Once momentum accelerated, LINK moved decisively higher, clearing several resistance points along the way. This development has kept bullish structure intact, with buyers still in control of short-term market positioning.
Current Market Context and Price Behavior
Despite the current 24-hour decline, LINK remains well above prior consolidation levels. The setup continues to reflect stability after strong upward movement. Notably, LINK has increased by 1.7% compared to Bitcoin and 0.7% relative to Ethereum within the same period of time. This cross-market action highlighted the resistance despite traders keeping eyes on the $22 23 zone.
Source: (X)
As bulls protect and hold a tight range on the price, the focus now shifts to whether LINK will move to higher resistance. Chainlink remains stable after its breakout, holding above support while testing resistance. Price action reflects strong momentum, with traders closely monitoring the $22–$23 range for the next decisive move.