Chainlink Price Eyes $22 After Bullish Breakout Above Downtrend Line

Chainlink (LINK) has emerged from a prolonged consolidation phase with a decisive breakout above its descending resistance. The move has captured market attention, positioning the token for a potential test of the $22 zone if current momentum persists. Analysts highlight growing buyer strength and consistent capital inflows as signals of a continued bullish trajectory.

As LINK stabilizes above critical support levels, the price structure presents opportunities for further gains.

The daily LINK/USDT chart shared by Crypto Feras outlines a clear technical shift after the token pushed above a long-standing descending resistance trendline. This pattern, supported by higher lows near the $10.50 support level, reflects strengthening bullish sentiment.

The breakout brought LINK into the $15.80–$16.00 range, setting its sights on the next key resistance at $17.40. According to Crypto Feras, this level serves as a pivotal marker; a clean break above could lead the asset toward a target near $22.00, based on historical price zones and volume profile indicators.

Source: X

Price structure confirms a higher-high formation, validating the breakout as more than a temporary spike. However, caution remains in place as a failure to reclaim and hold $17.40 could signal exhaustion. Traders are closely watching for a successful retest and confirmation candle to support further entries. As long as LINK sustains above the new trendline support, the short-to-mid-term structure remains intact.

24-Hour Data Shows Resilient Recovery Amid Fluctuations

BraveNewCoin data for the 24-hour trading period between July 12 and July 13 shows a moderate gain of 0.05%, with LINK ending the session at $15.31. The price recovered from an intraday low of $14.70 after an early dip and held above $15.00 for the remainder of the day.

This rebound, though modest, occurred without any abrupt volume spikes, pointing to a steady demand profile. LINK’s market capitalization currently sits at approximately $10.38 billion, securing its position within the top 20 cryptocurrencies.

Source: BraveNewCoin

Volume remained consistent, reaching $324.77 million, reflecting active engagement without directional bias. This balance indicates that while traders reacted to short-term fluctuations, the broader sentiment held firm. A key area for short-term continuation lies between $15.30 and $15.40; should this range provide support, LINK could move back toward the $15.50–$16.00 resistance.

Momentum Indicators Support Price Structure Shift

At the time of writing, the LINK/USD daily chart reflects a clear uptrend above $15.00, with a recent high near $15.80 before retracing slightly to $15.25. This structure follows a series of higher lows that began in late June, signaling a constructive bullish setup.

The Awesome Oscillator (AO) confirms this momentum, currently reading +1.36, with expanding green bars over consecutive sessions. The shift from red to green on the histogram marks a transition phase from neutral to bullish territory.

Source: TradingView

The Chaikin Money Flow (CMF) sits at +0.16, further validating the bullish sentiment by indicating sustained capital inflow. The CMF has maintained positive values throughout July, suggesting that investor accumulation is ongoing.

If LINK holds above the $15 psychological barrier and continues to attract volume, the projected targets at $17.40 and $22.00 remain plausible within the near-term trading horizon.