Chainlink Reclaims Key Levels
On Wednesday, Chainlink led the crypto market as it started to recover from the recent pullback, which saw most cryptocurrencies retest their range lows for the first time in two weeks.
LINK recorded the second-best performance among the top 100 cryptocurrencies, with an 11% increase in the past day. Notably, the altcoin hit a six-month high of $26.76 on Monday, after recovering 14% from the weekend lows.
As it hit its multi-month high, analyst Ali Martinez pointed out that Chainlink added nearly 3,000 new addresses. According to the post, 2,995 new LINK addresses were created on August 18, the highest growth in 5 months.
However, the start-of-week correction halted the bullish momentum, sending the cryptocurrency’s price to retest its breakout zone, around the $23.50 mark on Tuesday. After testing this area as support, Chainlink rebounded and reclaimed the $24.50-$25 range, briefly hitting the $26.50 barrier on Wednesday morning before retracing.
Analyst Rekt Capital asserted that LINK is attempting to reclaim the $23.86-$34 price area after the recent performance. He highlighted that the lows of this range have historically been a “key support and successful retests here have enabled rallies to the Range High around $34.”
Chainlink’s continued stability at the $23.86 level will be crucial for the rally to the range high. The market watcher noted that volatility below this range is possible as part of a volatile retesting process.
LINK’s Levels To Watch
The cryptocurrency’s monthly close is one of the most important levels to watch, as closing above the range low would position Chainlink for a bullish rally continuation. On the contrary, failing to reclaim this area in the monthly timeframe could lead to a deeper pullback toward the $19.41 level, not seen since the early August breakout.
As of August 21, 2025, Chainlink (LINK) is trading at $25.71, with an intraday high of $26.79 and a low of $24.44. The current price reflects a 5.15% increase from the previous close.
In the broader context, Chainlink’s Cross‑Chain Interoperability Protocol (CCIP) has processed over $2.2 billion in volume by early 2025 and is available on more than 50 blockchains. The protocol now supports self‑serve onboarding of tokens via the Cross‑Chain Token (CCT) standard, securing over $24 billion in token value across assets like Aave’s GHO and Shiba Inu.
Looking ahead, Chainlink’s price predictions for 2025 vary among analysts. Some forecasts suggest that LINK could reach a maximum price of $59.26 by 2025, while others predict a more conservative maximum of $16.78. These projections highlight the uncertainty and volatility inherent in the cryptocurrency market.
Investors should monitor Chainlink’s price movements closely, especially around the $23.86 support level and the $34 resistance level. A successful reclaim and hold above these levels could signal a bullish trend, while failure to do so may result in further corrections.
