Chainlink’s native token LINK has returned to the forefront of the crypto market, driven by technical indicators, heightened institutional interest, and real-world applications of its network. Some market observers now believe that, after a lengthy period of weakness, LINK may be setting the stage for a broader recovery.
Technical setup signals accumulation phase
According to Gann Wyck, the GannWyck Model 1 accumulation structure is evident for LINK on higher timeframes. This suggests that, following a prolonged multi-year downtrend after its previous cycle peaks, LINK may be approaching the final phase of its accumulation cycle.
Chainlink is recognized as one of the largest oracle networks supplying data to decentralized finance applications. Analysts point out that this accumulation pattern extends beyond just price charts, reflecting broader network growth and strengthening fundamentals.
Mini glossary: An oracle network provides infrastructure for bringing off-chain data to smart contracts. Chainlink leads this sector, delivering price feeds and various external data flows to on-chain applications.
Key factors supporting this view include increased attention to Grayscale’s ETF application, purchases from Caliber Investments, and Chainlink’s expanding role in data infrastructure. Additionally, BNB Chain’s adoption of Chainlink’s data standards in the context of US public data initiatives has also been highlighted.
According to analysts, LINK is nearing the end of its accumulation period at a key support zone following an extended decline, with both price structure and the expanding network utility seen as intertwined factors.
Main support zone and critical price ranges
After peaking near $30 at the end of 2024, LINK has spent the past two years in a prolonged downtrend, characterized by a series of lower highs and lower lows. Continuous selling pressure has pushed the price into the $7 to $8 range, now seen as a stable support zone in the current landscape.
In particular, the $6.50 to $7.50 region is seen as crucial for accumulation, with multiple defense layers identified there. Conversely, a decisive move back above $10 could signal that the downtrend has weakened and renewed buying appetite is emerging.
In a potential stepwise recovery scenario, analysts identify target ranges at $13–15, then $18–20, and later $25–27. Looking further ahead, the $28–30 band is also mentioned as a long-term goal.
Broader upside prospects in weekly chart
Crypto Patel provides another perspective, noting that LINK has been confined to a downward channel since its 2021 peak near $50. Recent weekly action shows the price moving back into a strong accumulation zone over the past three weeks.
This analysis highlights the $4.75 to $7.85 range as a strong accumulation band. After falling roughly 86%–87% from its previous highs, LINK has returned to this range, which some analysts believe could serve as a base for a new upward trend.
If LINK breaks above the upper boundary of this channel, the first target is around $21.35, with the previous cycle high near $52.22 as the next key level. More optimistic, long-term projections even mention the $100 area for the 2028–2029 period. However, these figures are based on technical analysis and price predictions, not guarantees.
