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The Chainlink (LINK) cryptocurrency is attracting attention from analysts and traders as it potentially sets up a 2025 bullish trend.
Analysts believe Bitcoin is about to break out of the consolidation following indications of higher lows and higher highs against Bitcoin (BTC) and the USD.
Analysts identify upside potential
Crypto analyst Ali pointed to the TD Sequential indicator on the 12-hour chart, which recently presented a “buy signal” for Chainlink. This signal suggests that a price recovery could be on the horizon.
At press time, LINK had a price of $20.68, a 24-hour trading volume of $954 million, and a market capitalization of $13 billion. Despite the token’s 14.58% loss last week, experts claim that the token is a fertile ground for hoarding.
Similarly, Michaël van de Poppe noted that LINK’s valuation against Bitcoin remains undervalued despite the start of an uptrend. He stated,
“An upward trend has begun. It is now looking for a higher low and I expect LINK to reach full growth in 2025.”
This is in line with the broader view that LINK could see significant growth once it stabilizes and regains momentum.
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Key resistance levels and historical patterns
Chainlink’s performance against Bitcoin is closely watched, with 0.0004480 BTC acting as critical resistance. If a breakout of this level occurs, LINK could target 0.0006271 BTC and 0.0007950 BTC in the medium term, analysts suggest.
Based on historical patterns, LINK has had a series of consolidation cycles and often strong uptrends thereafter. Similar to the current trends, 0.000268 BTC as a safety net below the support level.
If the asset remains above this level, it could strengthen its position for a breakout in the coming months.
Technical indicators show mixed momentum
LINK is trading below the 9-day and 26-day exponential moving averages with short-term bearish momentum on the daily chart. The RSI now stands at 42.75 and indicates that the token is close to oversold conditions. Currently, the asset could recover if buyers show up at these levels.
The MACD ticked, crossing the MACD line and the signal line, showing a bearish crossover. But the reduced histogram bars indicate a fading downward momentum.
Once LINK breaks the psychological support level of $20, a short-term move to $24-25 could be on the horizon.
Chainlink seems to be at a crucial stage. Based on the analysis, analysts see bullish signals and a clear path to bear market growth, so LINK is well-positioned to benefit from any extended upward momentum.
Short-term price action is still uncertain, but most expect LINK to perform very well in 2025 as we begin to see more lows break through resistance levels.
