Lokesh Gupta
07-08-2025
Chainlink (LINK) price has continued to deliver an impressive performance both in price action and development activity. Nonetheless, it is remarkable that LINK price has recorded impressive growth despite the relatively sluggish cryptocurrency market.
Analysts predicted a possible breakout in the price, with the maximum target at $46. This projection however is conditional to holding important support points, especially the $13 zone.
Ali Martinez's analysis of Chainlink showed that the altcoin is in a strong upward trend. The key support lies at $13, coinciding with the 0.618 Fibonacci retracement. If the $13 support holds, LINK price could continue its ascent toward $46.
The level has been a good support level in the past, and sustaining it would result in a 150% upside. More so, the fact that LINK price is close to the lower channel line is a good place where a possible reversal pivot can occur.
Chainlink/TetherUS Perpetual Contract 3D Chart | Source: X
Similarly, in his analysis, Martinez has also noted some of the resistance areas that traders should carefully monitor. The first resistance is $19, which is just above LINK's current price of $16.45. Breaking above this resistance would make it true that the bullish trend is still there.
Another key resistance lies in the $29–$30 zone, where LINK price has faced selling pressure in the past. Martinez believed that even though $46 might be within reach, traders need to be careful as the price nears these resistance points.
Furthermore, Altcoin price has shown significant short-term strength, recently surpassing $16.70 after clearing key resistance levels. This movement marked a notable performance, with Altcoin price outperforming major altcoins like Ethereum.
Analyst CryptoJoe pointed out a Cup and Handle pattern on the 1-hour chart. This formation is easily preceding a price rally, and the short-term target is $17.70.
Chainlink/Tether 1D Chart | Source: CryptoJoe
In addition to the short-term setup, ChartNerd shared a long-term view of LINK. The chart exhibited an upward trend that started in 2019, and it has served as powerful support. Altcoin price recently rebounded from this support line, signaling a continuation of the bullish trend.
As Altcoin price continues to rise, the next critical level to watch is $21.10, the 0.618 Fibonacci level. Furthermore, if top altcoin can break this resistance, the price could move toward the $53.41 target, which aligns with the 1.0 Fibonacci extension.
Source: Chart Nerd, X
Notably, Altcoin growth is not limited to price action, it also leads in DeFi developer activity. According to Santiment, Altcoins currently ranks as the top DeFi project in GitHub activity, with 272 events over the past 30 days. This can be in commits, pull requests and resolution of issues, which point to active development.
Top DeFi Projects by Developer Activity | Source: Santiment
Such high development activity with its increase by 20.9% over the previous month showed that there were notable upgrades or integrations. Specifically, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and oracle network services are expanding across multiple ecosystems.
The growing level of development backs the bullish sentiment on Altcoin. The increase is an indication that Altcoin has enough growth potential in the future, which will push up the price.
Meanwhile, High Altitude Investing observed that the current price structure of Chainlink resembles the accumulation phase of Bitcoin in 2015. This phase preceded Bitcoin's parabolic move to $20,000 in 2017. The chart shows the similarity between the two assets during their combination periods before breaking out.
Chainlink/USD 10D Chart | Source: X
Chainlink price has completed an ABC correction and is now consolidating in a similar pattern. These areas of accumulation, as shown by the green circles in the chart, are where the market sentiment switched to a bullish instead of a bearish one.
Chainlink price was at about $16.65 at press time, up after testing near $5 lows. Such price action shows rising demand and accumulation by long-term holders.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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