Chainlink's native token LINK is currently navigating a critical price zone marked by the significant support level at $14.25 and resistance near $15.77. Recent trading activity reflects tension between bulls and bears as short positions grow and trading volume declines. Over the past 24 hours, LINK slipped about 5.25% to around $14.40, accompanied by an 11% drop in volume and a 13% decrease in daily active addresses, indicating hesitation among market participants.
Meanwhile, technical analysis reveals that LINK is facing strong resistance at the 200-day Exponential Moving Average ($15.77), which it has failed to breach multiple times. This persistent rejection has generated a bearish outlook with potential downside toward $12.70 if the resistance holds. Notably, significant liquidations loom depending on where the price moves — a drop to support could trigger $2.9 million in long liquidations, while a surge past resistance could eliminate $15.37 million in short positions.
Despite bearish signs, optimism persists among analysts who highlight a bullish pennant breakout on the daily timeframe after LINK broke a descending trendline that had capped rallies since late 2024. This pattern projects a potential 135% rally, targeting the $30–$40 price range. Supporting this outlook are strong development fundamentals, with Chainlink ranking second in recent GitHub activity, and increased rollout of key protocol features such as data feeds and Cross-Chain Interoperability Protocol (CCIP).
Additionally, Chainlink recently demonstrated its real-world utility through successful collaborations with JPMorgan’s Kinexys and Ondo Finance, implementing a cross-chain delivery versus payment settlement between permissioned and public systems. This underscores Chainlink’s ongoing integration in financial infrastructure.
Mixed market sentiment complicates the picture. Although LINK’s sentiment score remains slightly bearish, price holding firm amid negative sentiment suggests accumulation by strong hands. Volume spikes accompanying the recent breakout validate buyer commitment, while technical momentum indicators hint at fading bearish momentum and possible bullish crossover soon.