Chainlink price holds firm at $23 with a Target to New ATH

Key Insights:

• Analysts predict a possible dip to $19.5-$18.2, offering a buying opportunity for investors.
• Analyst targets $21 as a key entry point for Chainlink’s potential surge.
• Chainlink shows resilience, with strong support levels and upside potential toward $47.46.

Chainlink (LINK) price remains steady at around $23 despite recent fluctuations. Analysts predict a possible dip before a potential rally to new all-time highs (ATH). With the price hovering around $23.4, market experts are keeping a close watch on this range, which could serve as an entry point for investors.

Support Levels and Potential Price Pullback

Crypto analyst Tareeq23 is watching the Chainlink price closely, with expectations that it may drop toward the $19.5 and $18.2 levels. These targets have been identified as key areas for potential buying opportunities.

Tareeq23, working alongside market analyst @DietaFlex, emphasizes that Chainlink’s price could stabilize around this lower range before moving higher.

A pullback to the established support levels near $19.4 and $18.7 could be a good time for investors to consider entering the market. These support levels may provide a solid foundation for price recovery.

Chainlink Key Entry Point

However, Michaël van de Poppe, another well-known analyst, has identified the $21 level as a key entry point for $LINK. His analysis shows that a pullback to the 20-week EMA at $21 could present an opportunity for investors to accumulate more tokens before a potential price surge. 

Van de Poppe’s charts indicate that Chainlink has been holding consistent higher lows, pointing to a healthy uptrend. Van de Poppe’s view is aligned with the broader market sentiment.

He noted that if $LINK can maintain its support, a rise above $21 could trigger a further move towards new all-time highs. This sentiment reinforces expectations for Chainlink’s continued growth if the price stabilizes at these levels.

Chainlink’s Resilience in a Volatile Market

Despite market fluctuations, Chainlink has demonstrated strong resilience, holding steady around the $23 level. Based on the More Crypto Online analyst, this price stability indicates Chainlink’s ongoing strength in the current market environment. 

They expect the price to continue holding firm, with a potential upside target at $47.46 based on Fibonacci extension projections. The analysts also see strong support at the $17.37–$15.55 range, which may act as a buffer in case of further market correction.

They conclude that Chainlink’s consistent performance makes it a promising asset for long-term growth, with the possibility of hitting new all-time highs in the near future.