Chainlink (LINK) eyes key resistance at $16.38, with analysts predicting a potential breakout despite short-term decline.
The Chainlink price seems to have found some support at $15.24, after declining from $16.36, the high attained yesterday. During this writing, LINK is trading at around $15.42, down 4.4% in the past 24 hours.
Although the crypto has seen positive movement in the 7-day timeframe, the 14-day and monthly timeframes are in the red zone. Specifically, LINK has gained 3.7% in the last seven days but lost 1.7% in the past two weeks. With these fluctuations, will Chainlink defy the bears and surge upwards?
Chainlink Price Analysis
Looking at the technical charts, the 1-day chart shows Fibonacci retracement levels drawn from the most recent significant swing high to swing low. The key retracement levels indicate important support and resistance zones. Notably, the 0.236 Fibonacci retracement at $14.974 has acted as immediate support, with $15.753 at the 0.382 Fibonacci level providing minor resistance.
Notably, the 0.50 Fibonacci level at $16.384 is a critical pivot point, and if the price manages to break above this, it may indicate a potential upward move. The 0.618 and 0.786 Fibonacci levels at $17.014 and $17.910 represent further resistance. A break above these levels could open the door to a reversal toward previous highs.
Meanwhile, the Relative Strength Index currently sits at 41.00, indicating a slight bearish sentiment, as the index is below the neutral level of 50. While the RSI is not in oversold territory yet, it suggests that the recent price action has been driven by selling pressure. The RSI also shows a slight upward divergence from mid-October to mid-November, which could prove weakening bearish momentum.
What Analysts Think
Importantly, the overall sentiment among analysts remains mixed. For instance, analyst Ali Martinez suggests that the price range between $13 and $26 is a “no-trade zone” for Chainlink (LINK). This shows that no significant trades should be made within this range.
According to Martinez, the next major price movement for Chainlink will occur once the price breaks out of this range, either upward or downward.
Elsewhere, Investor Jordan is bullish on Chainlink (LINK), expressing strong confidence in its future potential. He highlights how he has previously stated his belief that LINK is a “monster in the making,” and maintains this view.
I’ve said it before and I’ll say it again… I believe $LINK is a monster in the making🔥
Wouldn’t surprise me one bit to see @chainlink trading above $100 before the year’s over. https://t.co/G7Z3krzneW pic.twitter.com/OOYARGODBw
— Investor Jordan 🌪️ (@InvestorJordann) November 11, 2025
He mentions that it wouldn’t surprise him to see Chainlink trading above $100 before the end of the year. Notably, this would represent an over 500% increase from the current price.
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