Chainlink (LINK) currently confronts a decisive technical juncture as it trades near the pivotal $18 resistance level, a barrier that will determine its near-term trajectory. Market analysts highlight two contrasting scenarios contingent on this price threshold.
A confirmed daily close above $18 could propel LINK toward Fibonacci extension targets at $23.34 and $26.86, with longer-term macro resistance emerging near $31.33. This bullish case builds on LINK’s recent 17% weekly gain, supported by robust trading volume exceeding $946 million.
Conversely, failure to breach $18 may trigger a retracement toward the $15.50–$15.80 support band, with heightened downside risk extending to the $13–$14 range. Market sentiment and continued volume patterns are viewed as key indicators for directional conviction.
The $18 level now represents a defining moment for LINK’s short-term outlook, with the outcome expected to establish fresh directional momentum across decentralized oracle markets.