Chainlink Holds Its Higher-Low Structure as Analysts Eye a Break Above $23.50

Chainlink has sustained higher highs and higher lows since mid-September, signaling ongoing accumulation.

RSI remains neutral near 50 as price consolidates between $21.8–$22.8, hinting at volatility expansion.

A breakout above $23.50 could target $25.50–$29.00, while long-term projections see $100–$150 potential.

Chainlink (LINK) continues to maintain a steady market structure characterized by higher highs and higher lows since mid-September. The token trades near $21, consolidating within a narrow range while holding key support levels. The technical setup suggests an ongoing accumulation phase before a possible expansion. At the time of writing, LINK was trading at $21.

Technical Framework and Momentum Indicators

Chainlink maintains a minor support zone between $20.5 and $21.0, while a stronger structural base lies near $18.00–$18.10. Resistance levels are positioned at $23.50, $25.50, and $29.00, marking key price objectives if momentum strengthens

Dixon noted that the price action since the late-September low shows a series of impulsive upward movements followed by shallow pullbacks, signaling that buying pressure continues to dominate. The most recent correction appears overlapping and choppy, indicating a potential wave two or a developing flag formation within a broader uptrend

The Relative Strength Index (RSI) is close to 50 indicating equal conditions after briefly recovering. RSI remains above 40, which analysts often associate with trend pauses rather than reversals. The compression of prices between $21.8 and $22.8 indicates possible volatility expansion. Dixon added that the absence of heavy selling shows that market distribution has not yet started.

Outlook and Long-Term Projections

Dixon assigned a 65% probability to a bullish continuation, expecting LINK to form a higher low around $21.8–$22.0 before attempting a breakout above $23.50. If that level is cleared with volume confirmation, short-term targets range between $25.50 and $26.00, with an extended move possible toward $29.00

Source: ChartNerd(X)

A pullback toward $20.5–$21.0 could occur to reset technical indicators, though the broader structure remains intact above $20.0. According to analysis prepared by ChartNerd, Chainlink’s long-term outlook forms a parabolic pattern extending through 2026, projecting potential price discovery between $100 and $150

The formation shows progressive higher lows and sustained accumulation phases. With RSI neutral, volume steady, and support levels holding firm, Chainlink continues to show a constructive technical position ahead of its next expansion phase.

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