Chainlink Price Prediction: Bullish Harmonic Pattern Targets $47 Breakout

Chainlink (LINK) has posted a volatile 24-hour performance, staging a full intraday recovery after an earlier drop to monthly lows. The asset’s price structure now draws interest from technical analysts, with long-term chart patterns suggesting a potential reversal.

A rare harmonic setup on the monthly chart points to a breakout trajectory that could extend into high double-digit territory. However, recent trading behavior reflects hesitation and the need for volume-backed confirmation.

Intraday Rebound Suggests Liquidity Reaction at Support

The 24-hour chart for Chainlink between July 4 and July 5, 2025, illustrates a V-shaped pattern, highlighting a steep decline followed by an equally sharp recovery. The price opened at $13.67 but soon dropped to an intraday low of $13.05, amid low-volume trading.

The decline was steady, with limited signs of bullish interest during the early part of the session. This downward move tested a local support zone, where buyers reentered the market aggressively.

Source: BraveNewCoin

Chainlink rebounded in the early hours of July 5, reaching back to its starting level of $13.67, completing a full recovery. The bounce occurred quickly, suggesting a liquidity-driven reaction rather than a broad trend shift.

However, the accompanying daily volume stood at $321.81 million, below the previous session’s $436 million, implying the recovery lacked strong conviction. Without further volume to reinforce this move, the rally may remain short-lived unless LINK can secure a decisive close above $13.70.

Harmonic Pattern Hints at Multi-Year Upside Potential

A recent X post by a market analyst spotlighted a developing bullish harmonic pattern on the monthly LINK/USD chart, which may signal a long-term breakout opportunity. The structure, resembling a Gartley or Bat variation, spans multiple years and includes distinct XA, AB, BC, and potential CD legs.

Based on the analysis, the projected target reversal zone (PRZ) lies between $42.8 and $47.6, aligning with key Fibonacci levels—specifically the 0.786 retracement of the XA leg and 1.618 extension of BC.

Source: X

The harmonic setup begins at point X near $53, drops to point A around $0.80, retraces to point B near $36.5, and then forms a pullback to point C near $10.2. The current movement represents the early stage of the CD leg. If this pattern completes, it would mark a significant reversal from multi-year lows.

The same structure also mirrors a cup-and-handle pattern, formed between 2022 and 2024, reinforcing the bullish projection. Analyst Zip B emphasized that such patterns unfold over extended timeframes and require sustained momentum, volume inflows, and broader market alignment to reach the PRZ.

Daily Indicators Reflect Mixed Sentiment (as of July 5, 2025)

On the daily timeframe, LINK closed at $13.22, marking a 3.29% drop on July 4, 2025. The chart shows a tight consolidation range, with multiple failed attempts to break past the $14 resistance zone. The latest candle features a long upper wick, reflecting selling pressure near $13.78. This price behavior indicates continued resistance and hesitation among participants to initiate bullish positions without stronger catalysts.

Source: TradingView

Technical indicators present a neutral-to-cautious outlook. The Chaikin Money Flow (CMF 20) is at 0.00, showing a balance between capital inflows and outflows. Meanwhile, the Bull and Bear Power (BBP 13) has turned slightly positive at +0.16, signaling mild buyer presence.

Although both indicators suggest a reduction in bearish momentum, they remain far from levels that confirm a bullish breakout. Without increased participation or a clear move above near-term resistance, Chainlink’s price is likely to remain range-bound in the short term, even as the long-term harmonic setup builds.