Chainlink(LINK) price prediction: Breaking through $16 could trigger a new round of pump.

Chainlink price movement is hesitant, waiting for a clear directional breakout

Well-known crypto trader CRYPTOWZRD pointed out in a recent analysis that Chainlink (LINK) has shown indecisive daily closing performance, indicating that the market is still watching for the next price movement. He emphasized that only by breaking through the $16 daily resistance level can LINK potentially initiate a new round of upward movement.

LINK/BTC needs to strengthen to drive overall increase

CRYPTOWZRD specifically mentioned that the trading pair LINK against Bitcoin (LINKBTC) also showed ambiguous candlestick patterns, indicating insufficient momentum in the short term. He pointed out that the rise of LINKBTC would provide a solid upward foundation for LINK itself, so the performance of this trading pair is worth paying close attention to.

At the current stage, the weakening of Bitcoin's dominance may also free up more funds for altcoins. If LINK can break through with this momentum, it will have the potential to reach higher price levels.

Key technical level: Breakthrough 16 dollars looking towards 30 dollars

In the short term, CRYPTOWZRD expects Chainlink to test the key resistance area of $16. If this price level is effectively broken, LINK's upward momentum is likely to continue and may challenge targets of $30 or even higher. However, this requires the overall market environment to cooperate and sustained bullish sentiment to support it.

At the same time, he reminds traders to pay attention to the price movement changes in smaller time frame charts to capture trading opportunities brought by short-term fluctuations. He will continue to track the low time frame structure of LINK the next day, looking for suitable short-term entry points.

Short-term support and resistance: $15.85 and $16.84 are key observation points

Despite the significant short-term fluctuations in the market, CRYPTOWZRD believes that maintaining above $15.85 would be a positive signal, with the next resistance looking towards $16.84. If the LINK price fails to hold the current level, it may test the support area at $14.40.

He finally emphasized that before the market sentiment has formed a clear direction, it is not advisable to rashly enter the market; one should wait for stronger technical signals to confirm before making a decision.

Gate.io shows that LINK is currently priced at 15.932 USD, with a 24-hour price movement of 3.54%.