Chainlink price is gaining momentum again after sliding to around $18.27, pulling back from recent highs. While short-term momentum has cooled, some analysts still believe the current dip might be a chance for buyers.
Prominent analyst CryptoEd posted on X(Formerly Twitter), “Not buying $LINK on this dip is just crazy. Next leg up is loading. Soon we’ll see LINK break $20 and go for the $30 range.” That’s a confident call, especially given the recent pullback, but when you look at the LINK chart, there’s some logic behind it.
LINK Short-Term Pullback, Long-Term Gains
In the last 24 hours, LINK dropped by about 4.47%, and it’s slightly down on the week as well. But zoom out a bit and the story changes. Over the past month, LINK price has climbed more than 35%, and it’s still up nearly 19% over the last 90 days.
On the technical side, LINK is now sitting below its 7-day, 50-day, and 100-day moving averages. The short- and mid-term averages are almost identical at around $18.01, while the 100-day sits at $18.67, creating a layer of resistance just overhead.
LINK Price Analysis: Support and Resistance Levels to Watch
The most recent dip found some footing near $17.22, with additional support around $17.14. After that bounce, LINK price briefly recovered above $17.80, but couldn’t break through $17.88, a level that lines up with moving average resistance.
If buyers can push LINK above $18.67 and hold it, the next leg up toward $20 or even $30 becomes more realistic. But if it slips under $17.14, there’s room to fall toward $16.50.
What the Trend Says Now
Right now, LINK price is still showing signs of a short-term downtrend, but it’s holding on to medium- and long-term strength. Volume is steady, but not exactly showing strong breakout energy yet.
For bulls watching this dip, the key level is still $18.70. That’s the zone that would need to flip if the move toward $20 is going to materialize, just as CryptoEd indicated in his tweet.
Read Also: 3 Catalysts That Could Push Chainlink (LINK) Price to New All-Time Highs
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