Chainlink Holds Above $12 Support Level, Eyes 50% Gain to $18

Generated by AI AgentCoin World
Friday, Jul 4, 2025 4:30 am ET1min read
LINK
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Chainlink has demonstrated resilience by maintaining its price above the $12 support level, a critical threshold that analysts believe could pave the way for a significant upward movement. This stability has sparked optimism among traders, who are now eyeing potential resistance levels around $18 and $20. The token's ability to hold above $12 is seen as a bullish indicator, suggesting that a breakout to higher levels could be imminent.

Analyst Ali has highlighted the importance of the $12 support level, noting that it sits near the lower end of an ascending channel that has been in place since 2023. This channel, characterized by higher lows and resistance retests, indicates a pattern of gradual price appreciation. Ali's analysis also points to the 0.5 Fibonacci retracement level, which LINK is currently hovering around. If the price bounces from this level, the next resistance zones are expected to be around $18 and $20, both of which are significant Fibonacci marks.

The broader sentiment in the crypto community has turned increasingly optimistic, with some traders setting ambitious long-term targets for

Chainlink
. @CryptoJobs3, a well-known crypto commentator, has predicted that LINK could reach $100 in the long term, citing increasing momentum and strong fundamentals. This projection, while speculative, reflects the growing confidence in Chainlink's potential. The token's recent price action, which includes a weekly gain of 2.05%, has further bolstered this optimism.

Despite minor fluctuations, the overall trend for Chainlink appears to be bullish. Market observers are closely monitoring key technical signals and volume levels to confirm a potential breakout. If the $12 support level holds and volume increases, a move toward the $18–$20 range could materialize, aligning with the technical outlook and Fibonacci zones. The coming days will be crucial in determining Chainlink's short-term direction, as traders await further confirmation of the bullish trend.