- LINK records a 5.5% gain throughout the last 24 hours following its 17% decline throughout the week.
- A price rise above $21.67 would validate upward momentum which could reach $53, $100 and $144.
- The RSI value of 43.04 points towards market neutrality although MACD signals continued selling dominance in LINK.
Chainlink (LINK) has attracted interest from crypto enthusiasts because of its recent positive performance and whale activity.This significant whale activity in LINK comes after an impressive price recovery noted early today.
At press time, on March 14, 2025, Chainlink (LINK) was trading at $14.10 with a price increase of 5.5%over the past 24 hours. This follows a broader trend, with the asset having a 17% decline last week. The price movement falls within a 24-hour range of $12.73 to $14.16, indicating that LINK is attempting to establish a new short-term high.
Chainlink’s Cup-and-Handle Formation Signals a Potential Rally
According to CryptoELlTES, ChainLINK is gearing Up for a Massive Move. Chainlink (LINK/USDT) chart exhibits a classic cup-and-handle suggesting a potential upward breakout. If Chainlink follows through with this pattern, a significant price rally may unfold in the coming weeks or months with $53, $100,$144 as key targets.
The support points identified by retracement levels exist at $12.35 (0.382), $16.36 (0.5) and $21.67 (0.618) while $21.67 demonstrates the strongest resistance. A successful breakout that breaches the $21.67 level will confirm bullish momentum. If LINK manages to attract strong momentum its price could potentially reach the Fibonacci level targets which include $53.82 (1.0), $100.47 (1.272), $144.68 (1.414), $234.42 (1.618).
LINK exceeds a downward trend resistance line in its recent breakout pattern according to trendline observations. A breakout from this established pattern suggests that the price direction is set to change from negative to positive momentum. Conversely, failure to maintain this momentum could lead to a retest of lower support zones, particularly around $12.35.
Technical Indicators and Market Sentiment
LINK RSI is currently at 43.04, suggesting that LINK is in a neutral-to-oversold zone but has yet to reach extreme oversold conditions.This could indicate a potential buying opportunity if bullish momentum strengthens.
The MACD indicator reflects a bearish trend, as the MACD line remains below the signal line. The histogram also shows negative values, suggesting that selling pressure is still dominant.
