Is Chainlink poised to break $33 in the near future?

A promising bullish momentum for Chainlink?

The technical analysis of Chainlink (LINK) currently indicates a solid market structure, with renewed bullish momentum. After reclaiming the 50-day moving average and closing above the high-value zone, LINK has confirmed a positive trend on a weekly timeframe. Strong demand signals suggest a consolidation phase before a push toward the $33.75 target.

Nevertheless, a bearish divergence on the 12H RSI is forming, while the token encounters resistance at the upper band of the FBB. If LINK breaks its trendline at $21, it will likely seek lower levels, initially targeting the liquidity zone around $17.

Key technical analysis levels

• Support zone between $18 and $15: This level coincides with a significant structural support and a high liquidity area. A retest here would be considered a buying opportunity.
• Weekly market structure: Closing above the high-value zone establishes consecutive higher highs and higher lows, indicating bullish momentum.
• Target at $33.75: Next major resistance where profit-taking might occur if the upward movement continues.

Sustained bullish momentum in the medium term

Chainlink is currently evolving in a market structure characterized by consistent higher highs and higher lows, strengthening its positive orientation. Breaking and maintaining above $20 indicates that the market has regained confidence in higher price levels. This development suggests that buyers are ready to absorb supply at higher prices, often a precursor to continued upward movement.

Although short-term consolidation cannot be ruled out, the volume profile confirms the strength of the bullish movement. LINK indeed shows increasing volume, a sign of active demand as the price maintains above support. These volume inflows at higher levels are generally perceived as a sign of market acceptance, with buyers willing to pay more to accumulate. This reinforces the sustainability of the movement and reduces the probability of a sharp correction.

As long as Chainlink remains above $19-21, the overall structure remains positive. A period of consolidation is possible in the coming weeks, but if buyers maintain control above support, this will strengthen the probability of progression toward $33.75.

In summary, Chainlink is currently in a consolidation zone above the high-value area. While the price may take time to establish itself before attempting a breakthrough toward resistance at $33.75, technical signals continue to support further upside. Patience will be essential to fully benefit from LINK’s bullish potential.

How to buy LINK on Bybit?

From a long-term perspective, Chainlink has never looked more bullish since the previous cycle. To take advantage and buy Chainlink (LINK) on Bybit, follow these steps:

1. Registration: Create an account on Bybit via their website or mobile app (iOS/Android). Provide an email address, a secure password, and complete KYC verification (Identity Verification Lv. 1) to enable trading.
2. Fund your account: Log in, go to “Assets” > “Deposit”, and choose a method:
   • Fiat: Deposit via credit card (Visa/MasterCard) or bank transfer (depending on your region).
   • Crypto: Transfer cryptocurrencies like USDT or BTC from an external wallet. Deposits take 10 to 20 minutes depending on the network.
3. Access the market: Go to “Trade” > “Spot Trading” and select the LINK/USDT pair.
4. Place an order:
   • Market order: Buy immediately at the current price (~$20.50). Specify the amount in USDT or LINK desired.
   • Limit order: Set a specific purchase price (e.g., $19.28 to target the key support).
   • Click on “Buy” and confirm. The LINK will be credited to your Bybit wallet.

Chainlink short strategy on Bybit

Here’s a leveraged short at x5 for moderate risk on Chainlink (LINK), with a stop-loss at $28 and take-profits at $19.30 and $18. Here’s an analysis:

• Entry: At ~$25 (assumed current price), the entry aligns with the bearish RSI divergence and resistance at the upper FBB band. A break of the trendline at $21 would validate the bearish scenario, with a first target in the liquidity zone at $17.8.
• Stop-loss ($28): Placed above the intermediate resistance (~$27), the SL limits losses (before leverage), a high level but justified for a short-term trade facing a possible bullish push. With x5 leverage, the potential loss is amplified, requiring strict risk management.
• Take-profits:
  • TP1 ($19.30): 6% gain from $20.50, aligned with the key support at $19.28.
  • TP2 ($18): 12% gain, in the $18-15 liquidity zone. Risk/reward ratio: 1:0.17 to 1:0.33 (without leverage), low but improved by x5 leverage.
• Risks: The bullish structure (consecutive higher highs/lows) and increasing volumes suggest strong demand. A drop in BTC below $110,000 would support the bearish scenario, but a rebound could counter the trade. Monitor volumes and announcements related to Chainlink (e.g., CCIP, partnerships).

Recommendation: Enter short at $25 with x5 leverage, SL at $28, TP at $19.30 and $18. Take partial profits at $19.30 and adjust the SL to breakeven if the price reaches this level. Limit the position to 1% of your capital to manage the high leverage risk. Wait for confirmation of the break below $21 to strengthen the position.

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