Chainlink Price has been gaining momentum because LINK has been trading within a good channel formation with the assistance of increasing lows and volume.
Key resistance levels are also being monitored by market players and how the price will react will dictate whether consolidation will continue, or a more controlled break to upper range limits is formed.
LINK Holds Range Structure as Buyers Defend Key Support
Chainlink Price analysis shows that the token is within a clear horizontal range, and the price is at the moment in the range of $13.58.
The asset is still observing the larger channel boundaries, as seen in market commentary featured in Ali Charts on X, as the price has strong structural support at or close to $11.72 and resistance at the highest at around $14.63.
The movement of the price in the recent past indicates a sudden turnaround following a liquidity wash-up towards the bottom, indicating that there is strong interest on the part of buyers in the discounted prices.
Source: X
This expectation is backed by the 4-hour chart structure, which shows that the token has started to print higher lows as it reclaimed the $13.10 area which is a critical mid-range area in the channel.
Trading beyond this zone raises the likelihood of further upside rotation, to the upper resistance band. In the crypto models, the existing design is continuation-oriented as opposed to breakdown as long as price does not drop below reclaimed support points.
LINK Trades Narrow Band Above $13.30 Support Zone
The token models capture comparatively steady short-term trends, and LINK has achieved a 1.09 % increase over the last 24 hours.
The price was trading between an intraday low of $13.34 to a high of $13.82 which is controlled volatility not aggressive directional movement. The volume is good in the $455-$470million area which implies that it has been participating in the market and its liquidity is intact.
Source: BraveNewCoin
This narrow trading band around $13.80 is a sign of consolidation and not distribution. Price seems to be consolidating just above the $13.30-$13.40 support area after a slight backlash to the latest highs.
The token wise, keeping this support zone would bring another effort back to the $13.80-$14.00 area, failure to do so would precipitate a short-term retest of the lower intraday ranges.
Daily Structure Stabilizes Above $13.40 After $28 Decline
On the daily chart analysis, LINK can be used to point to a larger market environment characterised by a long-term decline since the last high at the point of around $28 and then again, a long period of market consolidation.
The token is now consolidating above the base of $13.40-$13.50, which has been the price anchor in the last few weeks. The market capitalization is close to $9.57 billion, and the circulating supply of approximately 708.10 million the coin has left the asset ranked around position 20 in terms of market value.
Source: TradingView
Momentum indicators are indicating slow improvement and not reversal. The MACD (12, 26) histogram has gone slightly positive with the signal lines starting to converge indicating a dimming bearish momentum.
In the token cases, the position should be retained above $13.40 to make a calculated step towards the resistance zone of $14.50-$15.00. But channel rejection would hold the coin range-bound until further reinforcement can be found.