- LINK holds $15.85 support after reclaiming 61.8% Fibonacci, signaling bullish continuation.
- Inverse Head and Shoulders breakout sets LINK’s next upside targets at $22.22, $26.09, $30.62.
- Analysts see bullish expansion ahead if LINK stays above $15.50 and breaks $16.80 resistance.
Chainlink (LINK) is trading at $15.85, showing resilience after reclaiming its 61.8% Fibonacci retracement level. Analysts suggest that holding this first support zone could signal the start of a new upward cycle. Buying pressure at these levels may confirm continuation, with short-term focus now shifting to the $14.00 range as the next major level to watch.
Analysts Track Critical Support and Breakout Levels
According to analysis prepared by Investing Haven, LINK held firm while many altcoins lost key support. The asset has now reclaimed the 61.8% Fibonacci level, a move the firm called “a big technical win.”
They confirmed a bullish outlook for 2025 remains intact, provided the price holds above $15.50 in the near term. CRYPTOWZRD, a technical analyst active on X, noted that LINK’s daily candle closed in an indecisive pattern.
While no clear trend emerged, he stated that such conditions often precede a breakout. He identified $15.85 as a crucial intraday support and $16.80 as resistance. A sustained move above $16.80 would signal growing buyer control and open up higher price targets.
Breakout Pattern Aligns with Long-Term Technical Setup
Marzell, another chart analyst, shared that LINK recently broke above descending resistance with strong bullish candles. He highlighted a confirmed inverse Head and Shoulders pattern, pointing to a reversal structure.
According to Marzell, LINK is now trading in an expanding bullish setup, supported by a breakout above $15.50. Fitzo Crypto added that the recent surge helped LINK reclaim a long-term trendline connecting 2019 and 2023 lows.
His analysis shows that LINK is entering a new phase of expansion, with next upside targets at $22.22, $26.09, and $30.62. He emphasized the importance of LINK maintaining the $15.85 level to avoid short-term reversal risk.
