Chainlink Price Analysis: Bullish Trends and Technical Indicators
The Chainlink (LINK) price has been exhibiting strength, maintaining its position above the $21 level, with several technical indicators converging to support this zone. This bullish structure remains intact, paving the way for potential further upward movements. According to recent data, the token has expanded for five consecutive days, reaching a two-week high, driven by whale accumulation and the growth of new Chainlink reserves.
Key Technical Points and Market Structure
The market structure continues to print higher highs and higher lows, indicating a bullish trend. The Chainlink price has found strong support at $21, with the 0.618 Fibonacci retracement, the middle of the Bollinger Bands, and the value area all converging in this region to form a strong basis for a bullish continuation. The price has already rebounded from this support, backed by notable bullish volume, signaling growing demand.
Chainlink (1D) Chart, Source: Tradingview
On-Chain Activity and Reserve Growth
In addition to the technical data, on-chain activity continues to support the bullish case. The Chainlink Reserve has officially exceeded 280,000, marking its highest level to date. This record number demonstrates growing accumulation and trust among holders, which is often preceded by a stronger price extension. The persistent reserve growth is expected to have a positive impact on the price campaign in the coming weeks.
Chainlink Reserves, Source: metrics.chainlink
Upcoming Price Campaign and Expectations
As long as Chainlink maintains its $21 support zone, the bullish continuation to $29 remains the likely scenario. The persistent buy volume and record growth of reserves further strengthen this outlook, although retailers should monitor for breakdowns of the supports that can delay the momentum. For the most recent and detailed analysis, visit the original article at https://crypto.news/chainlink-price-poised-for-a-rally-as-reserves-pass-280k-link/
