Chainlink LINK Maintains Bullish Foundation Above $12 Support Amid Consolidation Phase
Chainlink (LINK) is showing resilience by holding firmly above the $12.00 support level after a period of consolidation and a subsequent breakout. The token traded in a tight range between $12.10 and $12.50 from December 22nd to 27th, establishing a solid technical base. The formation of higher lows and highs around $12.15-$12.20 indicated sustained buying interest, gradually overcoming seller pressure despite lacking strong upward momentum.
A bullish breakout occurred on December 28th-29th, pushing LINK above $12.40 and quickly reaching a local peak NEAR $13.00. This sharp move signaled a shift in short-term market dynamics. However, overhead resistance triggered a swift pullback, bringing prices down to the $12.55-$12.60 zone. In the latest session, LINK is trading around $12.53—reflecting some loss of momentum but no structural weakness.
On the 24-hour chart, chainlink maintains positive momentum with noticeable intraday buying activity. The token is currently oscillating between $12.33 and $12.96 as buyers attempt to retest recent highs. Although the session opened under some downward pressure, the broader trend remains cautiously optimistic for LINK holders.
