Chainlink Price Near Crucial Support With Analysts Targeting $40

Chainlink faces a critical test near the $17–$18 support zone as analysts eye a potential rebound toward $25–$40.

Cipher X and CryptoLycus highlight accumulation patterns and bullish structures forming within LINK’s long-term rising channel, suggesting that holding this key support could trigger the next major breakout phase for its price momentum.

LINK Trades Near Key Accumulation Zone

Chainlink is trading near a critical support range, with analysts forecasting a potential upward reversal if the zone holds. The cryptocurrency, currently priced at $17.96 after a 5.7% decline in the last 24 hours, has seen increased selling pressure amid broader market weakness. The recent price movement reflects sustained profit-taking, with the asset dropping from $19.20 to below $18.00 in two days.

LINKUSD 24-Hr Chart | Source: BraveNewCoin

According to market data, trading volume during this period reached approximately $943.4 million, indicating heightened market participation despite the correction. The decline follows multiple failed attempts to reclaim resistance near $18.50, suggesting cautious sentiment among traders.

However, the market capitalization remains at $12.53 billion, supported by an available circulating supply of 696.8 million tokens. Analysts view the $17–$18 range as an area of structural importance that could determine the asset’s next trend.

Analyst Points to $17–$18 Support Zone

Analyst Cipher X expects the token to retest the $17–$18 support zone before any sustained recovery. The analyst described this region as a potential accumulation area where price stability could set the stage for a larger rebound. The chart shared by Cipher X shows the asset trading within this zone, with a possible scenario of a minor dip followed by a rebound toward the $25–$28 region.

LINKUSDT Chart | Source:x

Cipher X added that the next price leg could emerge if the market maintains strength at these levels, signaling renewed bullish momentum. The projected structure aligns with typical accumulation patterns seen before upward expansions.

The analyst advised patience, suggesting that the setup may require more time to develop before a move higher is confirmed. Holding above this range would likely reinforce market confidence in the continuation of the broader uptrend.

Cup-and-Handle Pattern Signals Bullish Continuation

Analyst LaCryptoLycus noted that the chart structure is forming a recurring cup-and-handle pattern within a long-term ascending channel. This formation has historically preceded upward expansions as accumulation phases give way to strong breakouts.

The analyst observed that repeated rounded bottoms in the structure indicate steady buying pressure, reflecting accumulation along the lower boundary of the channel.

LINK Chart | Source:x

The consolidation near structural support suggests that Chainlink may be entering its final accumulation phase before a potential breakout. If buying momentum strengthens, a move above mid-range resistance could trigger a rally toward the $40 region. This projection represents an estimated 165% upside from current price levels. The pattern’s structure aligns with broader market sentiment that favors assets maintaining strong technical channels.

Outlook Dependent on Market Reaction at Support

The next market direction depends on the reaction at the $17.50 support level. A breakdown below this area could extend the short-term correction, while a recovery above $18.50 may restore bullish momentum. Analysts believe that sustained trading above $18 would encourage renewed buying pressure, while a decisive push past $20 could pave the way for higher resistance levels.

The current setup suggests that buyers and sellers are competing for control within a narrow price band. As trading activity remains high, the upcoming sessions could determine whether it establishes a base for a rebound or continues its downward movement. For now, the $17–$18 accumulation range remains the critical zone to watch as analysts maintain projections toward the $25–$40 region, depending on the strength of the next recovery phase.