Based

bullish

Reflect

Chainlink

Reserve

<ul>
 <li>LINK retraced to $21–$20, aligning with Fibonacci support levels and moving averages, offering bulls a potential re-entry before continuation.<br></li>
 <li>A bullish ascending triangle from 2019 shows LINK building momentum, with a projected breakout target exceeding $140 based on historical moves.<br></li>
 <li>Chainlink Reserve added over 43,000 LINK, reinforcing accumulation amid current market conditions.</li>
</ul>
<p>Chainlink (LINK) is trading at <a href="https://www.coingecko.com/en/coins/chainlink" target="_blank" rel="noopener noreferrer nofollow">$22.74 a</a>s at press time , down about 2.9%. Investors are keeping a close eye on the $20 support level, hoping it triggers a solid bounce and opens the door for a breakout toward $33 or beyond if buying momentum picks up.</p>
<div id="media_image-5" class="widget widget_media_image cfu-banner cfu_banner-728 cfu-banner-lg"><a href="https://buy.magacoinfinance.com/coinfuturadisplay" rel="noopener noreferrer nofollow"><img width="1452" height="181" src="https://coinfutura.com/wp-content/uploads/2025/07/magacoins-new.webp" alt="magacoins-new" style="max-width: 100%; height: auto;"></a>
</div>
<p><strong>Key Technical Levels Provide Support Near $20</strong></p>
<p>CryptoPulse observed that "$LINK is easing down toward our $20 buy zone," identifying it as a potential entry point. According to the daily chart, the price surged from $15 to nearly $28 in early August, followed by a pullback. The current zone between $21.12 and $19.80 aligns with 50% and 61.8% Fibonacci retracement levels, which historically serve as technical support during market corrections.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/CryptoPulse_CRU/status/1963785412905746671
 </div>
</figure>
<p>The moving averages near this zone suggest dynamic support, with past rallies showing rebounds from these bands. Recent candles reflect market indecision at the $23 level, indicating a possible consolidation phase. A break below the $19.80 level could open the way to deeper corrections, while a bounce could resume the prior uptrend.</p>
<h2 class="wp-block-heading" id="strong-long-term-chart-indicates-a-bullish-pattern-strong"><strong>Long-Term Chart Indicates a Bullish Pattern</strong></h2>
<p>On a broader timeframe, Chainlink shows a developing ascending triangle pattern, formed over several years. The rising trendline and repeated tests of resistance near $40 suggest long-term accumulation. The pattern remains intact, and a breakout could result in a strong move above the $40 level.<img width="602" height="356"></p>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Source <a href="https://x.com/LostCryptoland/status/1963599187809112304" target="_blank" rel="noopener noreferrer nofollow">Lost in CryptoLand</a> Via X&nbsp;</p>
<p>Based on historical performance, if the projected breakout occurs it could lead to a move as high as $148.A similar breakout in 2020 led to a 262% gain.</p>
<h2 class="wp-block-heading" id="strong-indicators-reflect-consolidation-and-mixed-momentum-strong"><strong>Indicators Reflect Consolidation And Mixed Momentum&nbsp;</strong></h2>
<p><a href="https://cryptorank.io/price/chainlink/full-feature-chart" target="_blank" rel="noopener noreferrer nofollow">On the 4-hour chart</a>, LINK trades around $22.75, pulling back from recent highs near $27. A descending triangle pattern suggests the possibility of a continuation.The MACD shows a bearish crossover but is still hovering near neutral levels. Meanwhile, the RSI sits at 44, indicating some bearish momentum in the market.</p>
<p>Trading volume fell during the recent dip, indicating selling pressure wasn’t very strong. Support around $21 and $20 is holding firm for now. If those levels give way, the price might drop toward $18 or $16.</p>
<p>On September 5th, the <a href="https://x.com/chainlink/status/1963638677092868521" target="_blank" rel="noopener noreferrer nofollow">Chainlink Reserve</a> added 43,937.57 LINK tokens, increasing its total holdings to 237,014.07 LINK valued at around $5.34 million. This steady buildup of tokens helps support the network’s long-term growth, fueled by earnings from both off-chain and on-chain sources.</p>

LINK Price Pulls Back to Key Support: Buying Opportunity or Bear Trap?

Table of Contents

CFU

Other articles published on Sep 5, 2025

Join our free newsletter for daily crypto updates!