Chainlink (LINK) Rises 18% to Hit $26.05 Amid Strong Technical Momentum

Chainlink (LINK) has demonstrated resilience in the recent cryptocurrency market environment, outperforming many large-cap altcoins amid a broader correction. Over the past several days, while other assets experienced sharp declines, LINK maintained its position near the upper end of its recent trading range and even reached new local highs [1]. On the 4-hour chart, the token saw a sharp decline into early August, bottoming at around $15.43 on August 3, followed by a sustained upward move to push through $20, $22, and eventually a spike to $26.34. After this high, price action has cooled off, with buyers attempting to establish a base in the $24–$25 range [1].

This price structure aligns with a classic “impulse → pullback → attempt to base” pattern, suggesting that as long as the asset continues to form higher lows above the mid-$22s, the short-term trend remains constructive [1]. Market metrics reinforce this sentiment. Trading volume has remained elevated since the breakout in late July, with rising volume supporting healthy demand. Open Interest (OI) has also increased from approximately 9.4 million contracts in late July to the high-13M/low-14M range, indicating fresh participation and potential for increased volatility [1]. Meanwhile, net long positions remain negative, though net shorts have been trending upward, suggesting a potential for short squeezes if bulls regain control [1].

The near-term outlook for LINK hinges on key price levels. Traders are closely watching $24.00–$24.50 as the first line of support. A clean break below this range could lead to a test of $23.20–$22.80 or even $21.50–$21.00, where the August rally began [1]. On the upside, $26.00–$26.50 is the immediate resistance zone. A strong 4-hour close above this level could signal a rapid move toward $28 and potentially $30, especially if broader market conditions remain supportive [1]. With elevated Open Interest and active short positions, a decisive break could accelerate the price movement [1].

LINK's recent performance has also drawn attention to its technical strength, with the token rising 18% in early August, reaching a high of $26.05 after a significant weekly gain [10]. This level now represents a key resistance zone between $26.37 and $26.97, untested since January 2025 [2]. Analysts suggest that if bulls manage to reclaim and hold this zone, a move toward $30 is possible. Some forecasts even suggest that the price could break its all-time high of $52.70 by year-end under favorable conditions [3].

However, the short-term outlook is not uniformly bullish. A technical analysis from mid-August projected a -1.14% price decline by August 19, with the price potentially dropping as low as $24.50 [6]. This bearish scenario contrasts with recent bullish signals, including a 3% price gain and a 19.6% rise in Open Interest over the past 24 hours, which indicate heightened speculative activity among traders [5]. Whale accumulation has also been noted as a positive sign, though one key metric suggests caution for long-term buyers [8].

Longer-term projections remain optimistic if the $30 resistance level is successfully breached and held. Such a move could potentially push LINK toward the $38–$50 range by the end of 2025 [4]. While short-term volatility remains a risk, the overall momentum appears to favor a continuation of the upward trend, provided key resistance levels are not broken downward.

Given the mixed signals and recent price action, traders are advised to closely monitor both technical levels and market sentiment in the coming days. A decisive close above $26.50 could signal renewed bullish momentum, while a failure to hold this level may invite bearish follow-through [1].

Source: [1] Chainlink (LINK) Short-Term Price Outlook (https://captainaltcoin.com/chainlink-link-short-term-price-outlook/)

[2] Is Chainlink (LINK) Price on Track to Hit $30 This Week? (https://coinpedia.org/price-analysis/is-chainlink-link-price-on-track-to-hit-30-this-week/)

[3] Is Chainlink the Lone Wolf of This Bull Run? LINK Price ... (https://cryptonews.com/news/is-chainlink-the-lone-wolf-of-this-bull-run-link-price-remains-in-the-green-despite-severe-market-crash/)

[4] Chainlink (LINK) Price Prediction 2025-2030: Latest Analysis (https://phemex.com/blogs/chainlink-link-price-prediction-2025-2030)

[5] Chainlink rises 57.6% in a month, but THIS falling rate ... (https://ambcrypto.com/chainlink-rises-57-6-in-a-month-but-this-falling-rate-points-to/)

[6] Chainlink (LINK) Price Prediction 2025 2026 2027 - 2030 (https://changelly.com/blog/chainlink-link-price-prediction/)

[8] Chainlink Price Surges on Whale Buys—Yet a Key Metric ... (https://beincrypto.com/chainlink-price-rises-as-whales-accumulate/)

[10] Chainlink (LINK) Surges 18% to $26 High as Bullish ... (https://blockchain.news/news/20250818-chainlink-link-surges-18-to-26-high-as-bullish-momentum)