Chainlink eyes a breakthrough at $15.30 as bullish indicators align across both technical and on-chain metrics, signaling potential upward momentum.
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Chainlink formed an inverse head-and-shoulders pattern, bolstered by a bullish EMA crossover.
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On-chain activity indicates support for a possible breakout above the $15.30 resistance level.
Chainlink [LINK] is gradually building momentum after several weeks of sideways movement, positioning itself for a potential breakout. At the time of writing, LINK traded at $15.02—a 0.55% gain over the past 24 hours. This price action comes as bulls attempt to overcome the stubborn $15.30 resistance. Multiple technical and on-chain signals now align favoring buyers, although broader confirmation still hinges on a decisive breakout and sustained strength above the current consolidation zone.
Breaking down Chainlink’s technical setup
LINK has formed an inverse head-and-shoulders pattern on the 4-hour chart, with the neckline at $15.30. This bullish reversal structure signals a likely trend shift if price clears resistance. Additionally, the 9 EMA has crossed above the 21 EMA, confirming short-term momentum strength. The moving average crossover supports the idea that bulls are regaining control. However, LINK must achieve a clear breakout above the neckline to validate this setup. Otherwise, rejection may extend consolidation in the $14.50–$15.30 range.
Source: TradingView
Rising deposits spark caution
Exchange metrics offer a mixed narrative. Over the past seven days, exchange reserves declined by 1.03%, suggesting reduced sell-side pressure, which offers a less bearish long-term outlook. However, exchange netflows spiked by 37.46% in the last 24 hours, indicating a short-term increase in deposit activity. Such spikes often signal potential for increased near-term selling.
Source: CryptoQuant
Volume, wallet engagement showing healthy signs
On-chain indicators reflect encouraging growth. Transfer volume increased by 73.2% over the last 24 hours, reflecting elevated coin movement. Additionally, active addresses rose by 11.06%, suggesting increased wallet participation. These metrics confirm improving user engagement, although the total transaction count dropped slightly by 2.33%, which may reflect temporary consolidation rather than a loss of interest.
Source: CryptoQuant
LINK’s derivatives market indicates mild bullish sentiment. The press time funding rate was 0.0090%, suggesting that longs dominated without excessive leverage. This balanced speculative pressure indicates traders are confident but not overly aggressive, which is constructive as it limits the risk of sudden liquidations.
Trend momentum confirmation?
The SuperTrend indicator has confirmed a fresh buy signal on LINK’s daily chart, as highlighted by Ali Charts. This confirmation adds confidence to the ongoing bullish setup seen across lower timeframes, increasing the likelihood of a sustained move higher. If LINK closes above the $15.30 neckline, this SuperTrend shift could validate a broader market reversal. The alignment across trend indicators and pattern structures increases the odds of breakout confirmation in the coming sessions.
Source: X
Conclusion
Chainlink appears well-positioned for a breakout if it decisively closes above the $15.30 neckline. The alignment of bullish technical patterns, moving average crossover, increasing on-chain activity, and a confirmed SuperTrend buy signal bolster the breakout thesis. Although short-term exchange inflows introduce slight caution, the overall outlook favors continued upward movement. A rally toward the $17 mark seems plausible if the breakout is confirmed with volume.
