Momentum Recovery Suggests a Possible Push to $14.50 if Buyers Hold Control
Chainlink’s LINK moved higher on Tuesday, gaining nearly 4% to trade around $14, recovering part of last week’s heavy decline. The rebound comes as several large-cap tokens stabilize after a period of market-wide weakness. The chart structure indicates a potential near-term shift in momentum, though sellers remain active near key resistance zones.
LINK Technical Outlook
The daily chart shows LINK recovering from a dip toward the $13.10–$13.30 range, an area that has consistently served as a liquidity pocket throughout the year. The immediate reaction from this zone underscores the presence of buyers who continue to defend deeper retracement levels.
Despite the bounce, the token still trades inside a broader descending structure formed since mid-October. Multiple failed attempts to reclaim the $16–$18 supply region reveal the persistent weight of overhead resistance. BitXJournal market structure specialist commented, “The market is trying to carve out a short-term floor. But until LINK breaks above the mid-range, the broader trend remains corrective.”
The chart highlights a strong demand band near $12, marking one of the year’s more reliable floors. A hold above $13 maintains the short-term bullish impulse, while a drop back into the blue support zone would signal renewed weakness.
BitXJournal technical analyst noted, “The rebound looks constructive, but the market will need continuation. The next decisive test sits near $14.50, which aligns with the prior breakdown level and the underside of local structure.”
Market Context and Outlook
Trading activity remains moderate, reflecting cautious optimism rather than aggressive accumulation. The broader crypto market’s stabilization is providing some fuel for LINK’s recovery, though sentiment remains sensitive to macro shifts.
If LINK closes above $14 with sustained volume, a move toward $14.50 becomes more likely, opening the door for a broader retracement of the recent decline. However, a failure to hold current levels could send the price back toward the deeper support cluster that has repeatedly attracted long-term buyers.
For now, traders are watching whether this short-term recovery can transition into a broader trend reversal or if it will fade against the still-intact resistance overhead.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.