Chainlink (LINK) Holds Critical $13 Support, Eyes $46 With $17.64 Breakout Target

Generated by AI AgentCoin World
Thursday, Aug 7, 2025 2:46 pm ET1min read
LINK
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Aime RobotAime Summary

- Chainlink (LINK) maintains $13 support, with analysts projecting $46 if this level holds amid $16.49 trading near an ascending channel.

- August 2025 on-chain data shows $20,000 daily protocol fees despite $0 revenue, reflecting growing network activity and DeFi adoption.

- Key resistance at $17.64 (20-day SMA) could trigger a $20.22 move, while a breakdown below $13 risks testing $11 Fibonacci levels.

- Ecosystem metrics highlight $3.24M annualized fees and $32M raised, underscoring oracle infrastructure growth despite no direct income.

- Investors advised to monitor technical levels and on-chain activity as LINK consolidates, with RSI at 47.95 signaling neutral bias.

Chainlink (LINK) continues to consolidate above a critical support level at $13, with technical analysts maintaining that the price has a clear trajectory toward $46 provided this threshold remains intact. The cryptocurrency is currently trading near $16.49, showing resilience within an ascending channel. Price action has repeatedly bounced off key Fibonacci retracement levels, including $15.83 and $11.00, reinforcing the significance of the $13 support as a psychological and technical barrier [1].

Recent on-chain data reveals that Chainlink’s protocol fees hit nearly $20,000 daily in August 2025, despite annualized revenue remaining at $0. This indicates growing network activity and user demand, even though the platform continues to generate no direct income. The 24-hour trading volume for

LINK
has seen a 13.81% decline to $373.3 million, with the price up 2.4% over the same period [1].

From a technical standpoint, LINK faces immediate resistance at $17.76, the 20-day simple moving average (SMA) and upper Bollinger Band. A breakout above this level could set the stage for a move toward $20.22, with the longer-term $27 resistance level remaining a key area of focus. According to analysts, a sustained move above $17.64 would be a bullish signal for the next wave of accumulation [1].

While the $46 price target is contingent

on holding
the $13 level, traders are advised to remain cautious. A breakdown below this support could lead to a retesting of lower Fibonacci levels, including $11.00, and could shift the short-term outlook toward bearish territory. The Relative Strength Index (RSI) currently stands at 47.95, indicating a neutral market bias with potential for further upward movement if trading volume increases [1].

Ecosystem metrics also highlight Chainlink’s growing adoption. Annualized fees reached $3.24 million, and total capital raised is reported at $32 million as of August 2025. The project’s usage continues to expand despite the lack of revenue generation, which analysts attribute to the growing utility of its oracle-based infrastructure across decentralized finance (DeFi) platforms [1].

In summary, the price trajectory for

Chainlink
remains dependent on maintaining key support and resistance levels. The $13 level is crucial for preserving the long-term bullish case, while a sustained move above $17.64 could accelerate the path to $20.22 and beyond. Investors are advised to closely monitor both technical and on-chain activity as the market remains in a consolidation phase.

Source: [1] Chainlink (LINK) Still Has a Clear Path to $46, But Analysts Warn “Support at $13 Must Hold” (https://cryptofrontnews.com/chainlink-link-still-has-a-clear-path-to-46/)