Altcoin 'Boom' Sparks LINK's 75% Rally: Will the Momentum Hold As It Tests Key Resistance Levels?

Chainlink has emerged as a top-performing altcoin in the latest crypto market rally, climbing 75% since forming a solid base in mid-April. This move follows a clean reaction off a long-standing trendline that dates back to its 2023 lows — a structure we highlighted in our April 14 commentary.

Breakout from Trendline Support

After months of downtrend and sideways action, LINK began showing early signs of accumulation just above its 2023 trendline support. As Bitcoin and Ethereum led the broader market higher, LINK joined the momentum, confirming its breakout on both the daily and weekly timeframes.

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That April 14 base has now turned into a springboard, launching LINK into a multi-week climb that has caught the attention of traders and investors looking for strong altcoin plays.

Testing Key Weekly Resistance Zone

Currently, LINK is facing a critical test. The weekly chart shows price trading into a significant supply zone between $17.60 and $19.848 — a region where LINK was previously rejected earlier this year. Historically, this type of zone has triggered profit-taking and pullbacks, so bulls will need to demonstrate real strength to break through.

This resistance isn't just technical — it also represents a psychological hurdle where many traders may choose to de-risk after a strong run.

Will Bulls Defend the Next Higher Low?

The real test will come if LINK pulls back. If buyers step in during the next retracement and create a higher low, it could be a pivotal signal that the broader trend is shifting from bearish to bullish.

Such a development would set LINK apart from many altcoins, which have struggled to maintain bullish structure or establish higher timeframe reversals after months of decline.

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Perspective: Still Down 66% from All-Time Highs

While the recent rally is impressive, it’s important to keep the bigger picture in mind. LINK is still down approximately 66% from its 2021 all-time highs, underscoring how much room remains for long-term recovery. This perspective is crucial for managing expectations and navigating volatility.

Key Support and What to Watch Next

On the daily chart, a swing low has been established at $16.020. This level is now a crucial reference point. Holding above it with strength would confirm continued bullish control on the lower timeframes, potentially setting the stage for another leg higher.

If price breaks below that level, however, it could signal deeper retracement — possibly testing older breakout zones or previous demand areas.

Outlook: Bullish Bias Until Structure Fails

As long as LINK continues to form higher lows and maintain bullish market structure on the daily chart, the case for a bullish bias remains valid. Traders should remain patient and focused, especially with broader altcoin strength appearing across the market.

If LINK can break above the $19.848 resistance zone with conviction, the next upside targets could open up — including psychological round numbers and former support zones turned resistance.

For now, LINK remains one of the more technically promising charts in the altcoin space — but like the rest of crypto, its next move will hinge on how well bulls defend structure during pullbacks.

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