Chainlink Price Rebounds 6% as LINK Tests the $12 Resistance Zone

Abstract:Chainlink price has returned above $12 after rebounding from the lower end of its recent trading range. BraveNewCoin data places LINK at $12.11, up 6.21%

Chainlink price has returned above $12 after rebounding from the lower end of its recent trading range.

BraveNewCoin data places LINK at $12.11, up 6.21% over 24 hours.

The token traded between $11.25 and $12.22, while reported volume stood near $538.65 million. LINK now faces short-term resistance after recovering from support around the $11 area.

The daily and longer-term charts show two different tests developing. The shorter chart tracks resistance between roughly $12 and $13. Meanwhile, the multi-year chart shows LINK approaching a descending trendline dating from its previous market peak.

LINK Returns to the $12 Resistance Area

The analyst chart shows LINK recovering after dropping back into an accumulation range following its earlier move toward $13.

Discover more

Economics

Currencies & Foreign Exchange

Brokerages & Day Trading

Price recently bounced from weekly support around the $10.70 to $11 area. LINK has since moved back toward a cluster of daily resistance levels near $12.

Investor Jordans chart places a higher weekly resistance area around $12.80 to $13. LINK previously reached that region before surrendering its gains and returning to the range. Source: X

That leaves $12 as the first short-term test. A sustained move above the nearby daily resistance would bring the previous $13 area back into view.

The chart also maps a psychological level at $15 above the weekly resistance. On the downside, $11 forms the nearest support area, followed by the psychological $10 level.

A deeper move would expose daily support near $9.20 on the same chart.

LINK Volume Rises With 6% Price Recovery

BraveNewCoin data provides the latest market picture. LINK trades at $12.11, while its 24-hour high stands at $12.22. The days low sits at $11.25, showing that price recovered nearly $1 from the session bottom.

Chainlinks market capitalization stands near $9.06 billion, with approximately 748.10 million LINK in available supply. Source: BraveNewCoin

Reported 24-hour trading volume stands around $538.65 million. The price remains about 77% below its $52.70 all-time high, according to the same data.

The intraday chart shows a steady climb from around $11.25 before price moved above $12 during later trading.

This recovery puts LINK back near the resistance cluster shown on the first chart rather than confirming a breakout above it.

Long-Term LINK Trendline Comes Into Focus

Another analyst chart shifts attention to Chainlink‘s longer-term structure. A monthly chart shared on X shows a descending resistance line extending from LINK’s 2021 peak through subsequent lower highs. The price is now trading close to that trendline.

Discover more

Machine Learning & Artificial Intelligence

NEWS

Engineering & Technology

The chart shows a second declining line tracking more recent highs. Together, the two lines place LINK near a long-term technical boundary after several years of lower price peaks. Source: Quinten va X

The analyst behind the chart says the three-week structure has already turned bullish while the monthly structure is approaching a similar change. That interpretation has not yet produced a confirmed break of the descending resistance visible on the chart.

LINK therefore enters the latest session with $12 to $13 as the immediate resistance area. The longer-term chart places additional attention on whether price can move beyond the multi-year descending trendline while holding the recent recovery above $11.

Disclaimer

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Previous Post

Coinbase files to bring single-stock perpetual futures to US market

Next

Binance launches 24/7 FX perpetuals with 100x leverage