Chainlink Approaches Critical $25.50 Level as Market Signals Strong Demand
The post Chainlink Approaches Critical $25.50 Level as Market Signals Strong Demand appeared on BitcoinEthereumNews.com.
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…
