- Chainlink has bounced nearly 30% in three days, with price stabilizing in the $13–$14 support zone.
- Momentum indicators are turning upward, signaling fading selling pressure after a multi-week decline.
- A daily close above $14.80 could shift the mid-term structure and reopen upside toward the $18–$23 range.
Chainlink has had a rough couple of weeks, no way around that. Price bled lower for nearly two straight weeks, shaking out late longs and killing momentum. But over the last three days, something changed. LINK bounced hard, up roughly 30%, and the selling pressure that defined the downtrend is starting to fade.
A chart shared by crypto analyst Cihan Türkmen helps explain what’s happening beneath the surface. According to his view, Chainlink isn’t rallying wildly yet — it’s calming down. The market appears to be trying to build a base, with price gravitating toward a familiar zone between $13 and $14. That range has history, and right now, it’s doing its job again.
Chainlink Begins to Stabilize After the Sell-Off
Türkmen points out that the $13–$14 area has repeatedly acted as a decision zone. Each time LINK dips into this pocket, price action slows, volatility compresses, and buyers cautiously step in. That’s exactly what the chart is showing now. Candles are tightening, reactions are less emotional, and the market feels like it’s searching for balance rather than panic-selling.
Momentum indicators are starting to agree. The RSI has curled upward after briefly touching oversold territory, creating what looks like a bullish divergence. Price kept testing similar lows, while the RSI quietly printed higher ones — a subtle but important shift. At the same time, MACD remains in a positive crossover, reinforcing the idea that downside momentum is losing grip.
One level still looms overhead though. Around $14.80, price has been rejected more than once. Sometimes sharply, sometimes slowly, but always with intent. Türkmen notes that a daily close above this level would matter, because it lines up with the area where structure previously broke down. Clearing it could change the tone of the chart.
LINK’s Broader Structure Shows Early Signs of Strength
Zooming out, the bigger picture tells a familiar story. Chainlink previously traded within a rising channel for months before heavy selling cracked that structure and dragged price lower. That breakdown led directly to the current stabilization phase.
Türkmen stresses that $13 is the line bulls cannot lose. A close below it would likely bring selling pressure back quickly, opening the door toward the $10.34 support — a level tied to earlier swing reactions and liquidity pockets. The chart supports this risk clearly.
For now though, LINK is holding near $14, and reactions around the intersecting trendlines are becoming more constructive. The recent bounce shows buyers stepping in faster and with more confidence than they did during the worst part of the correction. It’s not explosive strength, but it’s real participation.
Is the $23 Target Back on the Table?
The big question, of course, is whether this stabilization phase is enough to reopen the path toward $23. Türkmen doesn’t frame it as guaranteed, but he does say it’s possible if momentum continues to reset rather than collapse.
The chart explains why $23 keeps coming up. Between $18 and $23, there’s a dense supply zone — an area that historically triggered violent reactions whenever price entered it. LINK would need to climb step by step: first holding above $14.80, then pushing through the mid-range near $18, before $23 becomes a realistic conversation again.
None of that requires hype or perfect conditions. It simply depends on steady sentiment and the continuation of the momentum shift already underway.
For now, Chainlink is no longer in free fall. Volatility has cooled, selling pressure has eased, and price is compressing rather than breaking down. As Türkmen puts it, LINK is regaining its footing. The next move — whichever direction it takes — will likely define the mid-term trend from here.
