Link's value hovering below $18: Is it possible for the LINK price to surge toward $25?
As we enter August 2025, Chainlink (LINK) is experiencing a significant challenge at the $18 level, a crucial juncture for confirming a bullish breakout and potentially igniting a strong upward rally. The $18 resistance is significant as it coincides with the top of Wave 1 in an Elliott Wave structure [4].
Despite several attempts, LINK has failed to secure a close above the $18 resistance, with recent price action indicating downward pressure and volatility near this level [2][4]. If a confirmed high-timeframe close above $18 materialises, it could signal the commencement of a new impulsive wave, propelling LINK towards targets such as $25 or even $31 in the medium term [4].
On the flip side, support zones are currently being tested around the 200-day exponential moving average (EMA), which is approximately $16. A failure to hold this support could trigger further declines towards stronger supports at approximately $13.5 and $11.0. The $14–$16 range is thus a crucial support area that traders are closely watching for signs of renewed demand to stabilise the price [1][4].
Analyst Hov has observed a wick into the resistance zone for Chainlink, but no confirmed high-timeframe breakout has followed [5]. Hov's chart points to $16 as an immediate support level for Chainlink [3].
Traders are exercising caution, waiting for a decisive high-timeframe close above $18 before calling it a confirmed breakout [2]. Volume is building for Chainlink, hinting at growing strength behind the scenes [6]. A breakout above $18 could potentially lead to a rally towards $20 and $25 [7].
However, low-volume resistance between $18 and $25 adds fuel to the view that a break above $18 could lead to a substantial rally [7]. If selling accelerates, Chainlink support levels are near $14 and $11 [1].
In conclusion, the $18 resistance is a pivotal technical barrier for Chainlink. A break above this level could lead to substantial gains, while a failure to do so could result in a revisit to key support zones in the mid-teens or lower. The long-term outlook remains generally bullish given Chainlink’s fundamental strengths and broad market positioning, but the near-term price action hinges on its behaviour around these critical $16 support and $18 resistance levels [1][4][2].
References:
- CoinGecko
- TradingView
- Hov's Chart
- CryptoNewsZ
- CryptoPotato
- CoinTelegraph
- NewsBTC
Bitcoin's rapid growth in technology has drawn investors' attention, making it a top competitor in the cryptocurrency market. Chainlink (LINK), despite facing resistance at the $18 level, holds the potential to break out and rally towards $25 or even $31 if a high-timeframe close above $18 occurs, as observed in the Elliott Wave structure.
