Chainlink Price Prediction Targets $22 as Bulls Defend $19 Support With $1B Volume Surge

Chainlink (LINK) continues to attract market attention as bulls attempt to defend the critical $19 support level amid increased trading volume and fading upward momentum.

Despite recent volatility, the token remains in a larger uptrend, with indicators suggesting a potential move toward the $22 level if short-term support holds.

The price recovery following a sharp retracement highlights active buyer interest at key technical zones. At the time of writing, LINK is trading at $19.55, posting a 24-hour gain of +2.30%.

Chainlink Price and Volume Structure Point to Accumulation Zone

Over the past 24 hours, LINK has shown increased volatility, trading within a wide range and briefly surpassing $20.30 before falling below $19.00 and then recovering to $19.55. This pattern of sharp intraday swings points to heightened activity from short-term traders.

The psychological $19 level appears to be a significant area of interest, where bulls are stepping in to absorb selling pressure.

Source: BraveNewCoin

Trading volume surged to a peak of $1.2 billion, currently resting at around $1.06 billion, highlighting strong market engagement. Elevated volume levels during both the price rally and subsequent correction reflect sustained interest from both buyers and sellers.

Notably, the rebound in price was accompanied by persistent volume, suggesting accumulation near the $19 area rather than distribution. With LINK maintaining a market cap of $13.25 billion and 678 million tokens in circulation, its position as the 17th largest cryptocurrency remains stable amid the price fluctuations.

Technical Indicators Highlight Momentum Shift

The daily LINK/USD chart reveals a broader bullish structure despite the recent pullback from highs near $20. After rallying from below $15 in late June, LINK reached a local high of $19.99 before correcting to $18.666, registering a daily loss of -4.28%.

The overall trend remains positive, as the asset continues to form higher highs and higher lows, indicating continued upward momentum.

Source: TradingView

However, short-term technical indicators suggest that this momentum may be slowing. The MACD (Moving Average Convergence Divergence) indicator shows the MACD line at 1.400, still above the signal line at 1.009, with a histogram reading of 0.391. Although the indicator has not yet signaled a bearish crossover, the narrowing gap between the MACD and signal lines indicates reduced buying strength.

The Chaikin Money Flow (CMF) also reflects this shift, with a reading of +0.11—still positive but showing signs of tapering capital inflow. Traders may interpret this as a possible pause in the uptrend unless buying interest resumes more aggressively.

Intraday Charts Signal Bearish Divergence

On the 1-hour timeframe, recent analysis from @olaxbt highlights bearish divergence and momentum fade. LINK price had maintained an ascending channel from July 15 to July 19, rising from $16 to over $19.80. However, LINK has since broken below the ascending support line and is currently hovering around $19.03, failing to retest previous highs. This breakdown indicates a potential shift in short-term sentiment, with bulls losing control of the uptrend.

Source: X

Volume analysis supports this interpretation, with the Cumulative Volume Delta (CVD) dropping below its 14-period average. Recent lower highs in CVD, while the price attempted to stabilize, suggest diminishing buyer strength. The Money Flow Index (MFI) has also fallen to 42.04, below the neutral midpoint of 50, confirming a slowdown in capital inflows.

These indicators collectively suggest a soft fade in momentum, though not yet a full reversal. The $19 level remains pivotal; a breakout above $20.40 could revive the bullish case, while a drop below $18.80 may trigger a deeper retracement.

Chainlink price action remains in focus as traders monitor the $19 support zone amid strong volume and shifting technical signals. With a broader structure still intact, the token could be positioning for a push toward $22, pending confirmation of sustained bullish engagement.