Chainlink (LINK) closed indecisively at $17.96, struggling to break resistance at $19.50.
The price remained inside the $16.00 – $19.50 range, signaling market hesitation.
A breakout above $19.50 could push LINK toward $30.00, with a long-term target of $37.00 if momentum sustained.
Intraday volatility kept LINK within a tight consolidation phase. Above $19.75, buying pressure could strengthen, leading to bullish continuation.
Failing to hold $16.00 might trigger a decline toward $12.80 and possibly $10.00.
LINK/USDT daily chart | Source: Trading View
A W-pattern breakout played out in October 2024, leading LINK from $9.50 to over $20.00 in weeks.
Exchange supply dropped to 0.147, indicating fewer tokens available for sale, a historically bullish sign.
LINK needed more daily candle confirmations before upward continuation. Long-term, increased DeFi adoption and reduced exchange supply supported bullish price action.
A move past $30.00 would confirm LINK’s recovery
We współpracy z: https://www.thecoinrepublic.com/2025/02/21/chainlink-consolidation-signals-potential-rally/
