Analysts are projecting the Chainlink (LINK) cryptocurrency to reach a one-year high of $32, suggesting a bullish period ahead. This would mark an approximate 126% rally from the asset’s current price.
Chainlink price has printed a double bottom chart pattern, alluding to a potential 126% rally to the upside. According to analysts, bullish sentiment among traders is increasing following a rise in LINK’s 30-day MVRV to the highest level in one month. Additionally, LINK is currently forming a bullish setup with a falling wedge pattern. The price has been consolidating within this wedge, signaling a possible trend reversal. As Chainlink approaches the apex of the pattern, investors could see a sharp move upwards, unlocking a new resistance level on the path to $32.
There has been bearish sentiment around the crypto market over the past week. One set of news that has been harming the market has been the resumption of tariff concerns. With tariff tensions bubbling up again and no clear resolution in sight, Chainlink (LINK)’s already shaky momentum has taken another hit.
Fortunately, Chainlink is emerging as one of the crypto tokens that might perform quite well in July 2025, following the emergence of a double-bottomed pattern on the weekly time frame chart. This pattern shows that bulls have been defending the support level at $10, and if it does hold, it might be a major factor that will drive a price rally. This double bottom pattern is still in the early stages, and it will mature after the price crosses above $18 and turns this price level into a strong support. However, a gradual increase in buying activity is supporting a bullish Chainlink price prediction.
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Crypto analyst Henry Lord of Alts says that Chainlink has endured months of downtrend and silence, but a structural shift is now underway. His analysis highlights that the long-standing downtrend has been broken, and LINK has entered a clear accumulation and consolidation phase. “These zones often come before the loudest moves,” Henry notes in a post to X. “If this kicks in, a breakout toward $25–30 wouldn’t be surprising for me.”
LINK’s price now sits above the 50-day simple moving average (SMA), acting as short-term support at $13.50. If this holds, it could spur a rally for the Chainlink (LINK) cryptocurrency entering July like many analysts forecast. A clear break above the next resistance level of $14.65 could confirm the breakout and signal the start of a larger move toward the $17–$18 range. Upon reaching that, LINK’s path towards $25-$30 would be imminent.
As it stands, LINK is still under its 200-day EMA on the daily chart. Until that’s reclaimed—and price breaks through $16, this is still very much a downtrend. There’s potential for a breakout towards $32, but only if momentum returns and the broader market plays along.
