- LINK jumped 7% and broke above major resistance, now trading near $15.35.
- Short-term target sits around $16, with potential for $28–$32 if Elliott Wave plays out.
- $14.80 is the level to hold—lose that, and the rally might stumble.
Chainlink (LINK) is waking up again, and fast. The price jumped more than 7% in just a day, cruising past some key resistance levels and landing somewhere around $15.35 at the time of writing. Volume’s up, sentiment’s turning, and traders are starting to look real closely at what might come next.
Some technical folks are pointing to a possible move toward $16 in the short term. But if momentum doesn’t fizzle? There’s chatter about LINK heading to $28, maybe even $32. Sounds ambitious—but hey, this is crypto.
Breakout Confirmation Has Bulls on Alert
Chainlink’s move came right after it cleared a chunky wall of resistance—$14.00, $14.50, and then, boom, through $15.35 like it was butter. TradingView charts show a clean breakout from a slow grind upward, backed by healthy volume. Not just a one-off pump either—it’s holding, at least for now.
Right now, price is chilling just above $15.00, consolidating a bit. This is what analysts call a “pause that refreshes,” where price might take a breather before it runs again. That $15 area? It’s now acting as the floor. If bulls defend it, this thing could push to $16 next.
LINK’s market cap just cruised past $10.4B too, so it’s gaining weight in the wider crypto scene.
Trader Rai’s Tight Setup Plays Out Nicely
Over on X (yeah, we still call it Twitter sometimes), trader Rai pointed out a clean breakout and shared a long entry at $14.691 with a tight stop at $14.675 and a target of $14.907. He wasn’t wrong either—price moved fast, and that small risk window made the setup all the more tempting.
The key zone now? Somewhere around $14.60–$14.69. It’s shaping up to be the demand zone—former resistance turning into support. Classic breakout structure stuff. As long as LINK stays above that, there’s fuel for more upside.
Elliott Wave Fans Are Eyeing $28 to $32
Now here’s where it gets interesting. An analyst going by Degencoder is tracking LINK through an Elliott Wave lens. According to him, we’ve just entered Wave (3)—which is usually the juiciest leg of the pattern. Big energy. Bigger price action. Target? Somewhere between $28 and $32.
The breakout above $12 was the kicker, and since then, it’s been grinding higher. Volume’s rising. Bollinger Bands are expanding. All signs of a building trend. Of course, if this plays out, a cool-down could follow in Wave (4), maybe down to the $24–$26 range. But for now, eyes are locked on Wave (3).
Can LINK Hold $14.80 and Climb?
During the July 10 session, LINK gained over $1 from a low around $14.30 to a close near $15.35. That’s not nothing. Momentum’s real, and short-term support now sits right at $14.80. If bulls defend that line and volume stays healthy, $16 is within reach—and the $28–$32 stretch starts to look less like a dream.
Traders and investors are watching closely. Breakouts don’t always stick, but this one? It’s got a bit of weight behind it.
