- Chainlink defends its crucial $15 trendline support, showing the setup for an upward continuation targeting $26 and $47 levels.
- Analysts highlight that $26 aligns with the Fibonacci 1.0 extension, while $47 forms the 1.272 mark on the parallel channel projection.
- The chart pattern signals renewed strength in LINK if the price holds the support region that has remained firm for several months.
Chainlink’s price has reached a critical support level that traders believe could act as the foundation for a major rally. According to the latest chart analysis shared by Ali Charts, LINK is trading near $14.69 on Binance and sitting precisely at a trendline that has repeatedly served as a launchpad in previous cycles.
The chart structure suggests that the current support may provide stability before an upward move toward the $26 region. The projection extends even further, with a secondary target identified near $47, aligning with the upper Fibonacci expansion zone. This outlook indicates that LINK may be entering a phase of renewed upward momentum after an extended consolidation.
Technical observers note that each time Chainlink has interacted with this lower trendline, a significant rebound followed. The setup seen in early November mirrors previous accumulation phases that preceded sustained rallies. Traders now watch closely to see if the pattern holds once again.
Fibonacci Levels Define LINK’s Bullish Projection
The chart reveals multiple Fibonacci retracement and extension levels guiding the expected price movement. The $26 zone aligns with the 1.0 Fibonacci level, often considered the first breakout point in continuation structures. Above it, the $47 level represents the 1.272 expansion, indicating a potential medium-term resistance target if momentum remains strong.
Market participants interpret these Fibonacci zones as markers for key decision points during price expansion. As LINK approaches these regions, trading activity typically increases due to position adjustments and profit-taking behavior. The dotted projection on the chart outlines a potential path showing a gradual rise followed by short retracements, a pattern consistent with prior rallies.
From a structural standpoint, Chainlink continues to move within a long-term ascending channel that has guided price action since mid-2023. Maintaining this pattern will be critical for preserving the bullish bias through 2026.
Momentum Returns As LINK Defends Its Long-Term Channel
LINK’s ability to stay above its $15 support has been viewed as a sign of technical strength. The ascending channel demonstrates a well-defined balance between higher highs and higher lows, confirming the asset’s cyclical growth pattern. The channel’s lower bound currently coincides with the 0.618 Fibonacci retracement, further reinforcing the strength of this support zone.
Analysts suggest that if LINK continues to consolidate above $15, buyers may accumulate positions for a potential breakout. The mid-channel region near $26 serves as the next checkpoint before a full expansion to $47. The dotted trajectory within the chart illustrates how price may fluctuate before reaching those zones.
Traders also highlight that the $26 region represents a psychologically significant barrier where liquidity tends to concentrate. A breakout above it could confirm a shift toward the next major cycle expansion. The trendline and Fibonacci alignment both suggest that Chainlink’s momentum could accelerate in the coming months if conditions remain favorable.
