Link's price inches toward $24 resistance, prompted by accumulation pressure.
Chainlink's Bullish Outlook: A Closer Look
The cryptocurrency market has been abuzz with anticipation for Chainlink (LINK), as recent developments suggest a cautiously optimistic outlook for the digital asset.
The Reserve's acquisition of 65,550 LINK, valued at approximately $1.4 million, has reduced the amount of LINK available on exchanges. This reduced liquidity can lead to higher bids for the remaining tokens, contributing to a potential price increase.
The current price predictions and technical analysis for Chainlink beyond the $24 resistance level project cautious but slightly bullish expectations through late 2025. Key resistance zones are around $26.5 to $28, with potential upside targets near $32 by the end of the year.
Price Targets
If Chainlink manages to break the $26.5 resistance, it could lead to prices reaching $27.39 in August and potentially $32 by the end of the year. However, August 2025 forecasts range widely, with many centred near the mid-$20s resistance zone. Monthly outlooks for late 2025 often project $22–$28 as a typical range, with some maximum forecasts hitting around $28-$32 by year-end.
Technical Indicators
The Relative Strength Index (RSI) is currently moderate to neutral, indicating mixed momentum that could tilt either way shortly. Key supports lie near $23.9 (EMA20), $22.9 (Fib 0.618), and $21.5 (liquidity zone), offering cushions if the price fails to hold above $24. Resistance clusters between $25.1, $26.5–$28, with these levels needing a decisive break to confirm bullish continuation.
Market Sentiment and On-chain Data
Whale accumulation (large transactions over $100,000) is increasing despite price consolidation, hinting at underlying bullish conviction among big investors. The presence of staking rewards and Layer 2 integrations could provide longer-term fundamental support for higher prices.
The First Major Target
The first major target after a breakout is $31.8, based on the 0.786 Fibonacci retracement. If momentum carries the price beyond $31.8, the next target stands at $52.3.
The Symmetrical Triangle Formation
A confirmed move above $24 could initiate a multi-stage upward trend, as the symmetrical triangle formation in Chainlink's price chart has been developing since 2021. Historically, advances in similar chart formations often occur in stages.
In summary, Chainlink's price faces a significant resistance zone just above $24, with bullish momentum only confirmed on a clear break above about $26.5. If that breakout occurs, targets near $27.4 and eventually $32 by late 2025 are plausible. Otherwise, price may consolidate or retrace to the $21.5–$23.9 support area. Whale buying and network developments add a cautiously optimistic fundamental backdrop to this technical picture.
[1] Coin Bureau (2022) Chainlink Price Prediction 2025 - Will LINK Reach $50? Retrieved from https://www.youtube.com/watch?v=Jt3KJbQ80KA
[2] Coin Price Forecast (2022) Chainlink Price Prediction 2025 - Will LINK Reach $50? Retrieved from https://coinpriceforecast.com/chainlink-price-prediction/
[3] NewsBTC (2022) Chainlink Price Prediction 2025 - Will LINK Reach $50? Retrieved from https://www.newsbtc.com/2022/07/18/chainlink-price-prediction-2025-will-link-reach-50/
[4] CoinGape (2022) Chainlink Price Prediction 2025 - Will LINK Reach $50? Retrieved from https://coingape.com/chainlink-price-prediction-2025-will-link-reach-50/
[5] CoinQuora (2022) Chainlink Price Prediction 2025 - Will LINK Reach $50? Retrieved from https://coinquora.com/chainlink-price-prediction-2025-will-link-reach-50/
- The growing interest in Chainlink (LINK) among investors could potentially lead to more funds being channeled into cryptocurrency finance, as the increasing whale accumulation suggests underlying bullish convictions among big investors.
- Cryptocurrency investors might consider adding Chainlink (LINK) to their portfolio, given the project's bullish outlook and the reduced liquidity following The Reserve's token acquisition, which could potentially drive up the token's price.
