Chainlink (LINK/USDT) Seeks to Extend Gains Beyond $30.00
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Chainlink Mid-term Analysis: Bullish
The market for Chainlink against Tether before now has been consolidating under the dynamic 20-period moving average line, reflecting market indecision. However, in recent times, the pair appears to be targeting a new height as the narrowed Bollinger band starts expanding. Though the Stochastic RSI beneath the chart is yet to signal a breakout, the overall sentiment remains optimistic as current price action signals a move towards $30.00.
Currently, Chainlink trades at $24.64 with over 54 million traded volumes for the week.
Technical Indicators
Major Resistance Levels: $25.50, $28.00, and $30.00
Major Support Levels: $22.27, $20.00, and $18.00
Chainlink Technical Analysis
The analysis of Chainlink against Tether on the weekly chart shows the pair is holding well above a defined range, reflecting an action for a move towards a new high. The Bollinger Bands, on one hand, show the pair is preparing for a breakout as the lines diverge, indicating volatility is likely to pick up soon. On the other hand, the Stochastic RSI suggests some consolidation activities around 80-mark levels. However, this does not rule out continued upside movement but suggests caution as the pair ventures into a deep overbought region.
To this end, the consolidation phase signaled by the Stochastic RSI suggests the pair is primed for more breakouts. Therefore, a decisive move above $25.00 would likely trigger a move towards $30.00 in the coming sessions.
LINK/USDT Analysis: What’s Next?
On the daily timeframe, LINK/USDT also appears to be aiming for more gains, as recent price action shows a strong upward momentum towards the $25.59 resistance level. The Bollinger Bands on this timeframe appear to be expanding, and if the trend continues, the pair might likely hit past the $30.00 level.
Meanwhile, the Stochastic RSI in recent times shows the pair has slightly pulled back and is now regaining momentum as the blue line is set to cross the orange line for more action around the 70-mark level.
Moreover, @morecryptoonl appears to be feeling more confident with his wave analysis, highlighting that LINK has a strong foundation for a move towards $47. However, the analysis suggested that a broader correction on the weekly timeframe towards $13.00 could reduce the likelihood of a bullish extension.
$13 is the line in the sand that keeps the bullish perspective with $47+ as first target alive. A break below this level will significantly reduce the likelihood of the directly bullish scenario. pic.twitter.com/FFrEMLTExp
— More Crypto Online (@Morecryptoonl) August 17, 2025
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