Chainlink (LINK) trades near $24.20 after a volatile 24-hour session marked by a sharp dip to $23.50 and a quick recovery.
Analyst Crypto Monkey highlights the $25.50 resistance as a crucial breakout level for a potential surge toward $29, while CRYPTOWZRD points to $24.00 support as key for maintaining bullish momentum. Active buying around the mid-$23 range and a V-shaped rebound signal strong market participation and sustained interest despite short-term pressure.
A decisive close above $24.50–$25.50 could confirm upside continuation, drawing fresh capital and targeting $29–$30. Conversely, losing $23.50 may invite deeper pullbacks. With $701 million in daily volume and a $16.46 billion market cap, it remains a top-watched crypto poised for the next significant move.
Resistance Near $25.50 Draws Trader Attention
Chainlink price is trading near $24.28 as it edges toward a crucial resistance level around $25.50. Analyst Crypto Monkey stated that this price zone acts as a key breakout point and a potential safe entry for traders seeking upward continuation. The chart indicates a possible accumulation phase near this threshold, reflecting concentrated trading activity as market participants wait for confirmation.
LINKUSDT Chart | Source:x
Crypto Monkey’s chart projection shows the asset consolidating above the $25.50 mark before advancing toward the $29 region. The pattern suggests higher lows, which often signal buying interest and sustained upward momentum.
Short-Term Support Near $24.00 Holds Price Structure
At the same time, the token remains steady above its near-term support of $24.00. Analyst CRYPTOWZRD noted that despite a recent bearish daily candle, LINKBTC continues to trade within a broad bullish zone. This indicates that the overall upward trend remains intact even with the latest price dip. Holding the $24.00 level is critical to preserving this market structure and preventing further downside.
LINKUSDT Chart | Source:x
CRYPTOWZRD added that a rebound from this support could renew buying interest, potentially leading to a quick price recovery. A sustained move higher from $24.00 may target resistance near $30.00, which aligns with previous breakout moves that led to sharp upward swings. Monitoring intraday charts for signs of higher lows or a bullish breakout could help traders plan short-term entries if momentum returns
Volatile Session Shows Active Market Participation
Over the past 24 hours, the asset posted a 1.57% decline, trading around $24.28. Price action during this period was volatile, starting near $24.40, dipping to about $23.50, and rebounding toward current levels. This intraday move indicates that buyers actively defended key support zones in the mid-$23 range. Trading volume reached approximately $701 million, showing steady market participation and keen observation of these critical levels.
LINKUSD 24-Hr Chart | Source: BraveNewCoin
The chart also reflects a V-shaped recovery, where the price swiftly bounced after a sharp decline. Such moves often suggest that market participants maintain confidence in the ongoing upward structure despite temporary pullbacks. The circulating supply of around 678 million and a market capitalization of about $16.46 billion reinforce the importance of these trading zones for both short-term and long-term market participants.
Key Levels to Watch for Next Price Move
Looking forward, a sustained close above $24.50 could enable it to retest the $25.50 resistance level. A successful breakout above this threshold may create room for a move toward $29.00 or higher. Conversely, failure to maintain support around $23.50 might expose the token to further downward testing, making this range essential for determining near-term direction.
Market activity indicates strong demand as Chainlink approaches this critical price region. Analysts point to the combination of higher lows, rising volume, and recurring rebounds from support as signs that traders are positioning for a potential upward continuation. Monitoring price reactions around $25.50 will be essential for those assessing Chainlink’s next major move in the current market environment.
