According to CryptoWzrd’s daily technical outlook, Chainlink closed the session without a clear directional bias, keeping the focus on the intraday structure. Price is currently confined to a tight range. A controlled dip toward the $12.80 support, followed by a bullish reaction, could present a long opportunity, while holding above $13.50 would open the door for further upside. Indecisive Daily And Weekly Closes Signal Market Uncertainty Moving forward, CryptoWzrd noted that the daily candles for both Chainlink and LINK/BTC closed without conviction, reflecting ongoing indecision in the market. This lack of directional clarity suggests that neither buyers nor sellers are currently in full control, reinforcing the need for patience as prices continue to consolidate. Related Reading: Chainlink Shows Strong Accumulation Signal: LINK Exchange Liquidity Dries Up The indecision extends to the weekly timeframe as well, where candles also failed to deliver a decisive close. Currently, the chart still lacks maturity; therefore, healthier price action is needed before a clearer structural bias can be established. From a relative strength perspective, LINK/BTC must push higher to confirm broader upside potential. That shift is likely to coincide with a decline in Bitcoin dominance, particularly if it breaks down and holds below the 59% support level. Until then, Chainlink may struggle to outperform on a sustained basis. In the near term, LINK is expected to remain range-bound. On the upside, a clean break above the $16 resistance zone would significantly improve the bullish outlook and open the door to higher targets and stronger long setups. Meanwhile, on the downside, the $12 area stands out as the primary support zone to watch. As long as price trades between these boundaries, focus remains on lower timeframes, where short-term structure and momentum shifts can offer scalp opportunities while the broader market waits for direction. Choppy Intraday Action Signals Compression Before Expansion The analyst went on to conclude that intraday price action was notably choppy and slow, reflecting ongoing indecision and a lack of strong participation from either side of the market. Such conditions often act as a compression phase, where price builds energy before a larger move, increasing the likelihood of heightened volatility in the sessions ahead. Related Reading: Chainlink Bullish Path – This Zone Will Decide The Next Big Move From a trading perspective, a clean bullish breakout above the $13.50 resistance level would serve as a clear long trigger, signaling renewed momentum and improved structure. An alternative scenario involves a bearish pullback toward the $12.80 support zone, which would also favor long positions following a convincing bullish reversal. That said, Bitcoin’s direction remains a key driver and will likely dictate how Chainlink ultimately resolves its range. Until stronger confirmation appears, the emphasis remains on patience and discipline, waiting for the market to present a well-defined and healthy trading opportunity rather than forcing trades in low-quality conditions. Featured image from Pngtree, chart from Tradingview.com
Chainlink is trading under sustained pressure as the price continues to struggle below the $13 level, failing to regain the bullish momentum that defined earlier phases of the market cycle. Repeated attempts to reclaim higher ground have been rejected, reinforcing a cautious outlook among traders. As broader market sentiment remains fragile, a growing number of analysts are warning that LINK could face additional downside before a meaningful recovery takes shape. Related Reading: Trust Wallet Exploit Drains $7M: Hundreds Of Users Affected Despite the weak price action, on-chain data tells a more nuanced story. Analyst at CryptoQuant, known as CryptoOnchain, reports that recent market data reveals a compelling convergence between on-chain metrics and technical structure, pointing to growing accumulation activity at current levels. While price remains compressed, underlying behavior suggests that larger market participants may be positioning quietly rather than exiting. This divergence between declining price and improving on-chain signals is often observed during transitional phases of the market, when selling pressure begins to fade, but confidence has not yet returned. According to CryptoOnchain, indicators tracking exchange flows and holder behavior show signs of significant buying interest emerging beneath the surface, even as LINK struggles to attract speculative demand. Exchange Outflows and Long-Term Support Point to Accumulation The analysis highlights a notable shift in Chainlink’s on-chain and technical dynamics, starting with exchange netflows. According to the Binance Altcoins Token Netflow 7-day chart, Chainlink has seen a substantial withdrawal from Binance over the past week, with total outflows approaching $50 million. This magnitude stands out when compared with other large-cap altcoins such as Uniswap (UNI) or The Sandbox (SAND), which have not experienced similar capital movements over the same period. In on-chain analysis, large and sustained exchange outflows are commonly interpreted as a reduction in immediate selling pressure. Rather than preparing to sell, holders appear to be moving LINK into self-custody or long-term storage, signaling a shift toward holding behavior. This type of activity is often associated with accumulation phases, particularly when it occurs during periods of weak price action. At the same time, the technical structure reinforces the on-chain signal. The LINK/USDT daily chart shows price resting directly on a long-term bullish trendline that has acted as dynamic support since 2020. Historically, this level has consistently attracted demand and limited deeper drawdowns during corrective phases. The convergence of heavy exchange outflows and a retest of major historical support sends a strong signal of smart money accumulation. It suggests that larger investors view current levels as a strategic entry zone. Defending this support remains critical, as holding it would preserve Chainlink’s long-term bullish structure and increase the probability of a future trend reversal. Related Reading: Why $100,000 Is Bitcoin’s Most Important Resistance Level LINK Testing Structural Demand Chainlink (LINK) continues to trade under pressure, with price hovering around the $12.50 level on the 3-day chart after an extended corrective phase. The structure shows a clear loss of bullish momentum following repeated rejections from the $20–$25 region earlier in the cycle. Since that peak, LINK has established a sequence of lower highs, confirming a medium-term downtrend that remains intact. From a technical perspective, LINK is currently trading below its short- and medium-term moving averages, which have rolled over and are now acting as dynamic resistance. The 50-period moving average sits well above the current price, reinforcing the idea that recent rebounds have been corrective rather than impulsive. The longer-term moving average, however, is flattening near current levels, suggesting that selling pressure may be slowing as price approaches a historically important zone. Related Reading: Ethereum Bearish Structure Meets Bullish Supply Signal – What Happens Next The $12–$13 range stands out as a key support area. This level has acted as a pivot multiple times over the past two years, repeatedly attracting demand during periods of broader market weakness. The fact that LINK is consolidating rather than breaking down aggressively suggests that sellers are losing momentum. Volume behavior supports this view. While sell-offs earlier in the year were accompanied by sharp volume spikes, recent price action shows reduced participation, indicating distribution may be giving way to stabilization. For LINK to signal a meaningful trend reversal, bulls must reclaim the $15–$16 zone. Featured image from ChatGPT, chart from TradingView.com
On-chain data shows the top 100 whales on the Chainlink network have again started accumulating the asset recently, retracing their earlier distribution. Top Chainlink Addresses Have Been Adding Since The Start Of November In a new post on X, on-chain analytics firm Santiment has discussed about the latest trend in the holdings of the top Chainlink addresses. Santiment defines “top addresses” as the 100 largest wallets on the network. Related Reading: Bitcoin, Ethereum Plunge Triggers Near-$600 Million Crypto Long Flush This category would naturally include the largest of whales on the blockchain, who carry some degree of influence due to the sheer size of their holdings. As such, the behavior of these investors may be worth monitoring. Now, here is the chart shared by Santiment that shows how the Chainlink supply held by the top addresses has changed over the last few months: The value of the metric appears to have gone up in recent weeks | Source: Santiment on X As displayed in the above graph, the combined supply of the 100 largest Chainlink wallets witnessed a decline in October, implying that these massive entities were participating in distribution. The selling from the top addresses first began as LINK’s price went through a sharp crash. The selloff continued until the start of November, when the indicator finally arrived at a bottom. Shortly after, the supply of the 100 largest LINK investors saw a reversal, signaling the return of accumulation. According to Santiment, these whales have collectively added 20.46 million tokens (about $263 million) to their holdings. This has not only retraced the October drawdown in their supply, but also in fact taken it to an even higher level. While the top Chainlink addresses have shown net accumulation since the start of November, the pace of buying hasn’t been constant. From the chart, it’s apparent that most of the accumulation occurred in November, with not much coming in December so far. It now remains to be seen what trend the 100 largest LINK investors will show next, and whether it will have any influence on where the cryptocurrency heads next. In some other news, Chainlink recently lost a multi-year technical support line, as analyst Ali Martinez has highlighted in an X post. As is visible in the above chart, Chainlink made two retests of this line during the first half of 2025 and each time, it found support. The retest that occurred after the latest price downtrend, however, ended up in failure, with the asset dropping below this line for the first time since 2023. Related Reading: US Bitcoin Session Leads December Returns After Weak November After the breakdown, LINK attempted to retrace it, but the retest from below also ended in rejection, a potential sign that the support may have flipped into resistance. LINK Price Following its most recent drop, Chainlink is trading around $12.96. Featured image from Dall-E, Santiment.net, charts from TradingView.com
The bridge uses Chainlink's CCIP to ensure consistent behavior across chains, mirroring the behavior of underlying assets.
Coinbase tapped Chainlink services for $7 billion bridge, but broader crypto weakness weighed on price.
The integration enables users to move these assets across different networks and applications, leveraging Chainlink's secure oracle networks.
Crypto analyst CryptoWzrd, in a recent Chainlink daily technical outlook, noted that the candle closed slightly bearish, but the overall structure remains constructive and pushes toward the key $16.00 resistance, where momentum could shift quickly. According to the analyst, a retest of the $13.50 support or a break above the $15.20 resistance will be the critical trigger for the next major trade setup. Indecisive Daily Close Sets the Stage For A Critical Trendline Test CryptoWzrd noted that both LINK and LINKBTC closed the daily candle in an indecisive manner, reflecting uncertainty in the short-term market direction. Despite this hesitation, the broader structure remains intact, and price action is approaching a technically significant point that will play a crucial role in determining the next major move for Chainlink. Related Reading: Chainlink At A Turning Point: Triangle Pattern Holds, But One Line Must Break According to the analyst, LINKBTC is now testing its daily lower-high trendline. A series of bullish candles emerging from this zone would be a strong signal that buyers are re-entering the market. If this momentum builds, it is likely to spill over into Chainlink, potentially triggering an impulsive rally. Should bullish confirmation appear, LINK could drive toward the $16 resistance level, a region that has been tested multiple times in the past. A clean breakout above $16 would open the door for a swift extension toward the next major hurdle for the bulls $20 resistance, marking a significant continuation of upward momentum. On the downside, CryptoWzrd emphasized that the $12 level stands as the primary support. A daily close below this level would weaken the bullish structure and could signal a deeper correction. Until then, the trendline test remains a critical focal point where LINK’s uptrend will continue or reverse. ChainLink Choppy Intraday Movement Signals Caution Conclusively, the analyst highlighted that the intraday chart was characterized by being somewhat choppy and trading within a very tight, small range. This consolidation phase often precedes a significant directional move, but it has made short-term trading decisions challenging without a clear trigger. Related Reading: Chainlink Approaches Key Breakout Levels as ETF Launch Triggers Market-Wide Buzz The analyst defined a specific setup to watch for: a bearish pullback towards the $13.50 support level, followed by a decisive bullish reversal, would serve as the ideal trigger for a long position. Such a trade would initially target the $15.20 resistance and potentially move toward higher levels thereafter. By confirming immediate strategic focus, the analyst stated that his attention “tomorrow will remain on the lower time frame chart development” to scout the next optimal scalp opportunity. This indicates a short-term, opportunistic trading mindset by waiting for the confined range to break or for the identified mean-reversion setup at $13.50 to play out. Featured image from Pngtree, chart from Tradingview.com
Grayscale’s conversion of its legacy Chainlink trust into the GLNK exchange-traded product on Dec. 2 did more than simply add another ticker to the NYSE Arca board. With roughly $13 million in day-one trading volume, $41 million in immediate inflows, and assets climbing to approximately $64 million within the first 48 hours, GLNK entered the […]
The post Chainlink’s $64M Grayscale ETF debut hides private banking loophole threatening to sever link between usage and price appeared first on CryptoSlate.
The bridge, secured by Chainlink's Cross-Chain Interoperability Protocol, allows users to trade and interact with Solana-based tokens on Base-based dapps.
Chainlink (LINK) is once again in the spotlight across the cryptosphere after the launch of the first U.S. Chainlink-focused ETF sparked a sharp price rebound and renewed institutional interest. LINK surged more than 20% in 24 hours, trading around $14.4 as volumes and market participation accelerated. Related Reading: Can the Fusaka Upgrade Renew Ethereum’s Momentum After Recent Price Hit? Chainlink ETF Launch Sparks Strong Market Reaction Grayscale launched the GLNK ETF on December 2, converting its previous private Chainlink trust into a publicly traded product on NYSE Arca. The ETF opened with zero fees and recorded more than 1.17 million shares traded on its first day, far above historical averages. Trading volume reached roughly $13.8 million, while early inflows were reported near $43 million, reflecting strong initial demand. The ETF gives institutions regulated exposure to LINK without requiring direct token custody. With access through major platforms such as Fidelity and Robinhood, Chainlink is receiving increased visibility among traditional investors. Grayscale currently holds about 1.3 million LINK tokens through the product. Derivatives data also shows rising interest, with LINK futures open interest climbing more than 20% and funding rates turning positive as traders add long positions. LINK's price gains some momentum on the daily chart. Source: LINKUSD on Tradingview Technical Signals Point Toward Breakout Potential Beyond ETF-driven momentum, the LINK chart is drawing attention from technical analysts. Several analysts have emphasized a rare four-year descending wedge pattern, typically associated with long-term compression before a breakout. LINK recently bounced from the $12.50 support level, forming higher lows and regaining key Fibonacci levels. Momentum indicators are turning positive as well. The daily RSI has recovered to around 53, while MACD signals improving strength. LINK is now approaching the $14.96 Supertrend level and remains below the 50-day and 200-day EMAs, both key levels the market is watching for confirmation of a trend shift. If the token holds above $13, analysts expect a possible move toward the $18–$20 resistance range. A break above these zones could open the path toward the higher targets mentioned by long-term analysts. Year-End Targets Strengthen as Market Sentiment Improves Crypto analyst Ali Martinez notes that LINK is currently sitting on an important long-term support trendline, which could act as a foundation for a move toward $26 and potentially $47 if momentum continues. Rising institutional inflows, accelerating derivatives activity, and a new spot ETF creating a steady channel for capital have strengthened market expectations. Related Reading: $93K And Climbing: Analysts Say Bitcoin’s Push To $100K Has Begun For now, traders are watching the $12–$13 support area for signs that LINK can sustain its recovery. A decisive move above $14.50–$15 would mark the next major step toward a full bullish breakout. Cover image from ChatGPT, LINKUSD chart from Tradingview
The oracle token outperformed most major cryptocurrencies as U.S. investors gained ETF access to LINK for the first time.
Chainlink is approaching a decisive moment as its price compresses within a well-defined triangle structure. The pattern remains strong, but the market is signaling that a major move is imminent. Everything now hinges on a single trendline break, one that will determine whether LINK is ready to reverse higher or sink into a deeper correction. B-Wave Extension Back In Focus: Is The Triangle Still Intact? According to crypto analyst More Crypto Online in a recent update on Chainlink, it is crucial to step back and examine the bigger picture of the asset’s price action. The analyst believes the market is likely still extending the yellow B-wave correction. At the moment, the analyst is considering that this B-wave may be unfolding as a complex triangle pattern, as seen in the “yellow scenario.” Related Reading: Chainlink’s Next Major Move Comes After This Range, Analyst Says Despite the triangle hypothesis, the analyst emphasizes that there is currently no evidence that a definitive low has formed. To confirm a structural reversal, LINK requires a clear 1-2 setup to the upside, which would signal the start of a new impulsive trend. As stated in previous updates, a confirmed bottom hinges on a break above the first yellow trendline. The triangle pattern, which typically unfolds as a 5-wave structure (A–B–C–D–E), remains valid for now, without a confirmed low. This pattern suggests that the price will continue to consolidate sideways, trapping both bulls and bears. More Crypto Online defined the critical invalidation point for the primary count. If the price were to break below the Monday, April 4th, low at $10.20, the current triangle microstructure would be entirely invalidated. Meanwhile, the broader B-wave correction would still be theoretically possible, but would likely unfold in a different structural path. Critical Support Cluster: $10.70, $8.94, And $6.90 In Focus More Crypto Online went further to highlight the next crucial support levels if the current triangle structure fails, which are located at $10.70, $8.94, and $6.90. The analyst cautioned that a definitive break below the $6.90 mark would significantly increase the probability of an alternative scenario for Chainlink: the unfolding of a larger degree Wave 4. Related Reading: Chainlink Maintains Its Base, But One Push Could Flip Sentiment Fast For now, the immediate focus is on how the price reacts within the key Fibonacci support zone defined by the boundaries of $6.90 and $10.70. The analyst concluded by stating the necessary condition for a structural low: the earliest sign of a reversal would be a break above the yellow trendline. Until that happens, the trendline continues to act as firm resistance, keeping the local downtrend structurally intact and signaling that caution remains necessary. Featured image from Pngtree, chart from Tradingview.com
The debut marks the first U.S. ETF tied to Chainlink, which secures tens of billions of dollars in onchain value across DeFi and gaming.
The token broke below $12, breaching key support levels with heavy trading volume, confirming the downtrend.
Grayscale's report comes shortly after it filed to convert its Chainlink Trust into an exchange-traded fund (ETF) that would trade on NYSE Arca.
LINK could target $14.50 if momentum sustains, CoinDesk Research's analysis tool suggested.
When Chainlink briefly appeared on a DTCC reference list, the crypto industry jumped to claim a “LINK ETF confirmed.” In reality, just like with XRP and Bitcoin, this was just a routine DTCC plumbing update, preparing for potential ETFs long before the SEC signs off. LINK had made it into the settlement system, not past […]
The post LINK ETF confirmed for 2025? XRP and SOL launches move up Chainlink timeline appeared first on CryptoSlate.
Technical breakdown occurred despite positive institutional developments as volume surged during selloff
An analyst has pointed out how Chainlink could see its next major move after it breaks past the range of this technical analysis (TA) pattern. Chainlink Has Been Trading Inside A Triangle Recently In a new post on X, analyst Ali Martinez has shared about a pattern forming in the 1-week price of Chainlink. The pattern is a Triangle from TA, which is a type of consolidation channel that appears whenever an asset’s price trades between two converging trendlines. Related Reading: Bitcoin “Arguably Undervalued,” Says Analytics Firm: Here’s Why Like other consolidation patterns in TA, the upper level of a Triangle is a source of resistance, while the lower one that of support. Also, a break out of either of these boundaries can signal a continuation of trend in that direction. There are a few different types of triangles, based on the orientation of the trendlines with respect to the graph axes. The “Ascending Triangle” forms when the upper line is parallel to the time-axis. As the price moves through this pattern, its range shrinks in an upward manner. Similarly, the price moving down as it goes deeper into the triangle results in a “Descending Triangle.” When the range shrinks in a manner where there is no bias attached to any particular side, the Triangle formed is called a “Symmetrical Triangle.” The two trendlines approach each other at a roughly equal and opposite angle in this case. In the case of the current Chainlink Triangle, none of these cases fit exactly, as the trendlines are uneven. As the chart shared by Martinez shows, LINK’s Triangle lies somewhere between the Symmetrical and Ascending types. As displayed in the above graph, the 1-week price of Chainlink bounced down from the resistance level of this Triangle earlier in the year and has since been approaching a retest of the support line. “The range between $13 and $26 is a no-trade zone for Chainlink $LINK,” noted the analyst. $13 and $26 here naturally correspond to the levels where the lower and upper levels are roughly located right now. “The next major move will come once price breaks out of this range,” explained Martinez. Generally, Triangle breakouts become more likely to occur the closer the price gets to the end of the pattern. Related Reading: Bitcoin Spot Demand Growing For First Time Since Early October: CryptoQuant Head This is because the asset’s range narrows as it approaches the Triangle’s apex. The tight consolidation makes retests more probable to occur, and so, the chances of one of the levels not holding up also rise. It now remains to be seen when Chainlink will finally break out of its consolidation channel, and whether a big move would follow. LINK Price At the time of writing, Chainlink is trading around $15, down almost 4% over the last 24 hours. Featured image from Dall-E, charts from TradingView.com
The oracle token encountered selling pressure at $16.25 alongside a sizable decline in the broader crypto market.
Strong volume surge confirms the breakout above $16, though profit-taking near session highs introduces near-term uncertainty.
The integration, powered by Chainlink’s NAVLink oracle technology, represents another leap in bridging traditional finance and decentralized finance together.
The system provides regulators with real-time visibility into a stablecoin's backing and circulation, automating compliance checks onchain.
The S&P Digital Markets 50 Index tracks a basket of blockchain-focused stocks and digital assets; Chainlink will provide crucial data to support a tokenized version.
CRE enables smart contracts that work across blockchains and tap into legacy financial messaging standards, with access to Chainlink's services.
The transaction involved the tokenized UBS USD Money Market Investment Fund Token (uMINT) on Ethereum, with DigiFT as the onchain distributor.
The oracle network's token hit its weakest price since the October 10 crash, breaking key support levels after multiple failed breakout last week.
A prominent crypto commentator known as Remi Relief has expanded on theories linking Ripple, SWIFT, and the global banking system to the long-term valuation of XRP. His post on the social media platform X came in response to a discussion initiated by well-known analyst Paul Barron, who questioned whether Ripple’s strategy has always been to bridge the increasingly fragmented world of bank-issued stablecoins. The idea brings attention to XRP’s utility in facilitating liquidity between institutional networks, with Remi Relief noting that this could push the XRP price to $1,000. The Ripple/SWIFT Dual-System Theories Remi Relief proposed that the global payment structure could split into two interconnected systems where both ultimately rely on XRP for settlement and support the cryptocurrency’s price at $1,000. The first theory proposes a revamped version of SWIFT that would retain much of its existing framework but incorporate blockchain-based assets such as XRP, XDC, HBAR, and Chainlink to achieve faster transaction speeds and improved efficiency. Despite these upgrades, it would still face skepticism from some financial institutions due to it being weaponized in the past. Related Reading: Ripple CTO Stacks XRP Ledger Against Other Blockchains, What’s The Catch? The second theory is the setup of a new Ripple-based network built in collaboration with Thunes, which would function as a more trusted and independent channel for cross-border payments. This system would be much quicker, much cheaper and more trusted by countries. In Remi’s view, both models would coexist for a time, giving banks and governments the freedom to choose based on transaction scale, cost, and reliability. However, he believes that the Ripple-Thunes system will later gain dominance and overtake SWIFT as more and more banks use that system. Regardless of which of the two theories prevails, Remi Relief pointed out that both have the potential to lead to a $1,000 XRP more quickly than most people think. Paul Barron’s Perspective On Institutional Stablecoins Paul Barron’s initial post that prompted Remi Relief’s response is based on the growing race among major banks to issue their own stablecoins. He pointed out that while SWIFT continues to promote neutral rails, banks like JPMorgan, Bank of America, Citi, and Wells Fargo are developing US-based consortium stablecoins. Similarly, European institutions such as ING and Deutsche Bank plan to launch euro-denominated versions by 2026. Related Reading: High Liquidity At This Level Could Send The XRP Price Surging Soon Barron warned that this trend toward proprietary stablecoin systems would fragment the global financial network even further and create walled gardens where each bank’s stablecoin operates in isolation. In his view, such fragmentation will bring out the original purpose of XRP, and this might have been the plan of Ripple CEO Brad Garlinghouse all along. The plan has always been to use XRP as a bridge asset capable of allowing interoperability between otherwise disconnected financial ecosystems. This function aligns with Ripple’s long-standing vision for the XRP Ledger as a neutral settlement layer for easy cross-border value transfer between different digital and fiat systems. At the time of writing, XRP is trading at $2.41 and is a long way away from trading at $1,000. Featured image from Freepik, chart from Tradingview.com
The pilot, part of Brazil's Drex initiative, used Chainlink's infrastructure to connect Brazil's Drex network with Hong Kong's Ensemble platform.
Chainlink continues to hold its ground above key support levels, keeping the broader market cautiously optimistic. Despite recent indecisive candles, the setup suggests that one strong bullish move could quickly shift sentiment and reignite momentum toward higher targets. Chainlink Faces Mixed Signals As Monthly Candle Closes Bearish In his Chainlink daily technical outlook, crypto analyst CryptoWzrd began by reviewing the higher timeframes, noting that the monthly candle for LINK closed slightly bearish. Additionally, the LINK/BTC pair closed its monthly candle indecisively, reflecting a lack of clear momentum against Bitcoin. Meanwhile, the daily candles for both closed indecisively, setting an ambiguous tone for the near term. Related Reading: Chainlink Eyes 300% Upside As Road To $46 Forms – Analyst CryptoWzrd emphasizes that the LINK/BTC pair must move upside to inject meaningful momentum. For this to happen, LINK/BTC needs to hold above the $0.000170 BTC resistance level, which would generate the initial bullish sentiment required for Chainlink to begin its ascent toward the first major target. If the necessary bullish sentiment is secured, the altcoin is expected to be pushed toward the $20 daily resistance target. The analyst highlights that achieving a healthy bullish breakout above $20 is the critical event that will trigger the next major upside rally and confirm a stronger directional trend. On the other hand, CryptoWzrd identifies the $16 level as the main daily support for the current structure. This price point must hold to prevent a deeper correction that would jeopardize the current bullish targets. The analyst has stated that his focus for the immediate future will shift to the lower timeframe chart formations tomorrow. This micro-analysis will be crucial for identifying the best scalp opportunities as the market continues to consolidate near these critical structural levels. Choppy Intraday Action Keeps Traders On Edge CryptoWzrd went further to reveal that LINK’s intraday chart has been choppy and slow, reflecting bearishness in the market. Despite the lack of strong momentum, the price is still holding above the $16.90 level, which remains a positive sign for the bulls in the short term. Also, the analyst emphasized that a further upside move is necessary to confirm a constructive chart formation and create a potential long opportunity. Related Reading: Chainlink To $100? Analyst Says This Breakout Could Be The Trigger Without that breakout, the structure remains fragile, and traders could face difficulty finding reliable entry points for bullish setups. A drop below $16.90 could trigger a deeper decline, putting additional pressure on Chainlink. CryptoWzrd concluded that patience remains key in navigating the current indecisive phase, as it’s best to wait for the next clear signal or trading setup before making any major moves. Featured image from Pxfuel, chart from Tradingview.com