Chainlink Price Stable, Key Levels Identified for Future Movement

The price of Chainlink (LINK) has been relatively stable in recent weeks, fluctuating between $12 and $13 since the beginning of April. This lack of significant movement suggests that the altcoin has yet to recover from its underwhelming performance in the first quarter of 2025. The current price setup indicates that LINK is unlikely to experience substantial price action in the near term. However, a notable crypto analyst has identified key levels that could influence the future trajectory of Chainlink's price.

Ali Martinez, a prominent crypto analyst, provided on-chain insights into the current state of the Chainlink price on the X platform. Despite the LINK price moving within the $12 – $13 consolidation range, certain on-chain levels could be crucial for its long-term journey. This analysis is based on the average cost basis of several Chainlink investors, evaluating the capacity of a level to serve as support or resistance depending on the total amount of coins last acquired by investors at that price level.

According to the analysis, the size of the circle in the chart represents the amount of LINK tokens purchased within each price region and its corresponding strength. Larger dots indicate a higher number of tokens and stronger support or resistance. Green dots refer to support as they are beneath the current price, while red dots refer to resistance as they are above the current price. Data shows that the Chainlink price has key support around the $12.28 – $12.62 region, where 11,130 addresses purchased 26.55 million LINK tokens. This region would act as an on-chain support, as investors with their cost basis around the level would likely defend their positions by buying more tokens, thereby cushioning the LINK price.

Martinez also noted that the altcoin faces major resistance around the $14.19 – $14.58 zone, where 20,930 investors acquired 21.19 million LINK tokens. Investors who bought tokens around this level are likely to sell if the Chainlink price returns around their cost basis, which would dampen the token’s bullish momentum and probably halt its upward movement. These support and resistance levels could be pivotal to LINK’s trajectory over the next few weeks. Specifically, losing the $12.28 support could see LINK fall below $11, as there is no significant cushion beneath it.

As of the latest update, the price of LINK stands at around $12.58, reflecting a mere 1% jump in the past 24 hours. This stability suggests that the altcoin is currently in a consolidation phase, with key levels to watch for potential breakouts or breakdowns. The identified support and resistance levels provide valuable insights for investors and traders, helping them make informed decisions about their positions in Chainlink.