Chainlink Tests Crucial Support, Bulls Eye $25

Chainlink, a leading decentralized oracle network, is currently testing a critical support level that could determine its next price movement. The $18 level, also known as the Bull Market Support Band (BMSB), is a crucial zone that has historically signaled the strength of the long-term trend for LINK, Chainlink's native token.

During the recent price action, LINK tested the BMSB at $18, which could soon determine the trajectory of the altcoin. The 'at the money' percentage, around 8%, highlighted a transitional zone around $20. If LINK maintains support above this level, it could confirm its uptrend and attract more buyers, with potential targets above $25 in the coming weeks. However, a breakdown below this level, especially with a confirmed retest as resistance, could trigger selling pressure and invalidate Chainlink's bullish structure, suggesting further downside risk.

Analyzing LINK's price action using the LuxAlgo structure break signaled a shift in momentum as Chainlink stays above $18, confirming a bullish bias. This support was tested critically by the long tail on LINK's daily chart and instantly rejected off it, suggesting increasing buyer interest. Key resistance levels are at $22 and $25, but failure to hold $18 as support could lead to a trend reversal toward $16.80.

The MACD indicator showed rising bullish momentum, as the MACD line crossed above the signal line near $18, confirming upward momentum. However, volume remained relatively low, indicating a need for stronger follow-through buying pressure to sustain the breakout. If volume increases, it could reinforce LINK's bullish trend, pushing toward higher price targets. Conversely, if the MACD histogram starts declining, it may signal a slowdown in momentum, increasing the risk of a pullback to $17 and possibly $15.

Lastly, LINK trading at $18 showed that 76.79% of addresses were 'in the money,' indicating strong support at the level. Conversely, 15.73% of addresses were 'out of the money' at this level, suggesting potential resistance if LINK fails to sustain above it. The 'at the money' percentage, around 7.47%, highlighted a transitional zone around $20.00—a critical pivot for future price direction. If LINK maintains