• Chainlink price has broken the market structure by creating a higher high above a critical resistance level.
  • A minor pullback could provide bulls the extra oomph to propel LINK to retest its all-time highs at $44.37.
  • The bullish thesis will break down if the 50 SMA at $34.95 is shattered.

Chainlink price shows a shift in the nature of market participants as it creates a swing high. This move could trigger other investors to step in, pushing LINK to retest its local top.

Chainlink price puts the worst behind it

On the 4-hour chart, Chainlink price has been on creating lower lows since hitting an all-time high of $44.37 on April 15. LINK formed the third consecutive swing high at the time of writing as it broke above the 50% Fibonacci retracement level at $37.28.

This steady shift above suggests a possibility that Chainlink price might sweep the swing high at $41.96. If the bullish momentum persists above this level, LINK could easily hit the subsequent level at $43.43.

Unless investors begin to book profits here, Chainlink price could surge an additional 2% to retest its all-time high at $44.37.

While the above is a straightforward scenario, the chances of it occuring are less likely. The pragmatic outcome would be for LINK to retest $37.28, which will allow the buyers to recuperate and propel Chainlink price by 15%.

LINK/USDT 4-hour chart

LINK/USDT 4-hour chart

If the sellers overwhelm the bullish momentum around the 50% Fibonacci retracement level at $37.28, leading to a breakdown, Chainlink price could slide 7% to the immediate support barrier at $34.95.

This pullback still doesn’t dent the bullish thesis, but if the demand level at $37.28 gives in, then the optimistic scenario will face invalidation. Such a move could cause LINK to retest the 200 4-hour SMA at $34.2 or the local bottom at $32.61.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Lido Price Forecast: LDO eyes further gains as BitGo enables native ETH staking via Lido

Lido Price Forecast: LDO eyes further gains as BitGo enables native ETH staking via Lido

Lido DAO (LDO) edges higher by over 5% at press time on Friday, extending its five consecutive days in the green. LDO gains momentum following BitGo's announcement on Thursday of native Ethereum (ETH) staking via Lido for its institutional clients.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC nears all-time high, ETH eyes $4,000, XRP sets new record

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC nears all-time high, ETH eyes $4,000, XRP sets new record

Bitcoin (BTC) price is trading above $120,000 on Friday, inching closer to its all-time high of $123,218. Ethereum (ETH) price has surged by over 20% so far this week, with bulls aiming for the $4,000 level next.

Top Crypto Gainers: Hedera, Flare, Ripple – HBAR, FLR, XRP make waves with double-digit gains

Top Crypto Gainers: Hedera, Flare, Ripple – HBAR, FLR, XRP make waves with double-digit gains

Hedera (HBAR), Flare (FLR), and Ripple (XRP) continue to extend their double-digit gains from Thursday, outperforming the broader market over the last 24 hours. The surge in altcoins aligns with Bitcoin (BTC) reclaiming the $120,000 level and an improvement in broader market sentiment.

Trump to introduce crypto to $9 trillion retirement market: Financial Times

Trump to introduce crypto to $9 trillion retirement market: Financial Times

US President Donald Trump is preparing to sign an executive order allowing 401(k) accounts to invest in cryptocurrencies as part of their retirement plans, the Financial Times reported on Thursday.

Bitcoin: BTC sets sight on fresh all-time highs after US passes key crypto bills

Bitcoin: BTC sets sight on fresh all-time highs after US passes key crypto bills

Bitcoin (BTC) posted a strong performance this week, hitting a new all-time high of $123,218 to start the week before consolidating around $118,000 as of Friday.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP