Chainlink Price Gains Momentum as Bulls Eye $33.75 Target - Coinedict

Chainlink (LINK) is showing renewed bullish strength after reclaiming its 50-day moving average (MA) and closing the week above the value area high (VAH). This breakout signals a shift in market sentiment, with analysts now eyeing the $33.75 level as the next major target.

Strong Structure Signals More Upside

LINK’s recent close above the VAH has confirmed a bullish weekly structure, marked by consistent higher highs and higher lows. This kind of setup often indicates that buyers are in control and willing to absorb supply at higher levels, strengthening the case for a sustained rally.

• Key Support Zone: $19.28 remains a critical support level, aligning with both structural support and the VAH. A retest here would likely create a bullish higher low, reinforcing the uptrend.
• Next Resistance: If LINK holds above VAH, momentum could drive the price toward $33.75, a zone where profit-taking is expected.
• Volume Strength: Rising volume at higher price ranges highlights strong buyer demand, reducing the risk of sharp corrections.

Consolidation Before the Next Move?

While momentum is strong, analysts note that LINK could enter a consolidation phase before attempting another breakout. A short-term dip back toward $19.28 would still be considered healthy and could provide a springboard for the next upward leg.

As long as Chainlink trades above this support, the overall market structure remains bullish.

What Traders Should Watch

• Sustained trading above $19.28 confirms bullish control.
• Consolidation at current levels may precede a rally.
• Upside target remains at $33.75, supported by volume inflows and improving market sentiment.

Chainlink has entered a bullish phase after reclaiming key levels. As long as support at $19.28 holds, the outlook favors a push toward $33.75, making LINK one of the stronger altcoins to watch in the current market.