Chainlink (LINK) crypto is gathering attention from analysts and traders as it potentially sets the trend for an upward climb in 2025.
Analysts believe Bitcoin is about to break out from consolidation after indications of higher lows and higher highs against Bitcoin (BTC) and USD.
Analysts Identify Rebound Potential
Crypto analyst Ali has pointed to the TD Sequential indicator on the 12-hour chart, which recently presented a “buy signal” for Chainlink. This signal suggests that a price rebound could be on the horizon.
At press time, LINK was priced at $20.68, 24 hour trading volume of $954 million and a market cap of $13 billion. Despite the token losing 14.58% in the past week, experts claim the token is a breeding ground for accumulating.
Similarly, Michaël van de Poppe noted that LINK’s valuation against Bitcoin remains undervalued despite the beginning of an uptrend. He stated,
“The uptrend has begun. It’s now searching for a higher low, and I expect a lot of upside to come for LINK in 2025.”
This aligns with the broader sentiment that LINK could see significant growth once it stabilizes and regains momentum.
Key Resistance Levels and Historical Patterns
Chainlink’s performance against Bitcoin is being closely eyed, with 0.0004480 BTC acting as a critical resistance. If a breakthrough happens at this level, LINK could aim for 0.0006271 BTC and 0.0007950 BTC in mid-term, suggested analysts.
Based on historical patterns, LINK had a number of consolidation cycles and often powerful upward movements after. Similar to current trends going, 0.000268 BTC as a safety net below support level.
Should the asset remain above this level, it could strengthen its position for a breakout in the coming months.
Technical Indicators Show Mixed Momentum
LINK is trading below the 9-day and 26-day exponential moving averages with short term bearish momentum on the daily chart. The RSI now sits at 42.75 and indicates the token is close to oversold conditions. Currently, the asset could bounce back if buyers appear at these levels.
The MACD ticked over, crossing the MACD line and the signal line, displaying a bearish crossover. But, shrunk histogram bars indicate fading downward momentum.
Once LINK breaks the $20 psychological support level, a move to $24-$25 in the short term may be on the horizon.
Chainlink appears seemingly in a pivotal phase. Based on the analysis, analysts see bullish signals and a clear way to bear market higher, so LINK is well positioned to benefit from any prolonged upward momentum.
The short term price action is still uncertain, but most expect LINK to perform very well in the 2025 as we begin to see higher lows break resistance levels.
