LINK Bulls on Edge: Will $16.39 Support Hold?

3 mins mins

Key Insights:

LINK must stay above $16.39 or risk a deeper move toward the $13.35 support zone.
A breakout above $18.45 and the trendline could confirm bullish continuation toward $21+.
Failure to hold $15.69 would point to a bearish wave structure gaining control of the market.

*LINK Bulls on Edge: Will $16.39 Support Hold?*

Chainlink (LINK) was trading at $17.02 with a 24-hour volume of $868 million. The price has gained 2.5% in the past day but remains down 3.05% over the last week. Market participants are focused on a few key levels as the chart structure develops, with $16.39 standing out as the level that could decide the next move.

$16.39 Support Holds – For Now

LINK has found short-term support near $16.39, a level marked by recent price action and the 78.6% retracement of the prior move. According to More Crypto Online, this is where the bullish scenario would remain valid — as long as price stays above this zone. While the level has held, there hasn’t been a strong upside reaction yet.

If the price breaks below this level with momentum, the outlook could shift. The next zone of interest sits closer to $13.35, which aligns with earlier consolidation and a deeper retracement level. The chart structure suggests that this move would be part of a broader corrective wave.

$17.65 to $18.45 Remains Key Resistance

The immediate resistance zone sits between $17.65 and $18.45, based on measured retracements from the recent high. This area includes multiple Fibonacci levels — 50%, 61.8%, and 78.6% — making it a likely spot for short-term reactions.

More Crypto Online noted:

“If price is rejected impulsively from this area, it could indicate that the Z-wave to the downside has begun.”

A failure to move past this range could keep LINK stuck in a larger corrective structure.

Support Below Eyes $15.69 if Breakdown Occurs

A separate analysis from Man of Bitcoin focuses on the $15.69 level. The price previously dipped below this zone but quickly bounced. The analyst stated: “A sustained break below $15.69 would suggest that alternative wave-2 is underway.” If that scenario plays out, a move toward $15.03 and possibly lower levels would be on the table.

$LINK held support before breaking below $15.69. Bulls now need to break above the descending trend line to indicate that wave-2 may have bottomed.
A sustained break below $15.69 would suggest that alternative wave-2 is underway. pic.twitter.com/sewU6Z74NH
— Man of Bitcoin (@Manofbitcoin) October 31, 2025

To confirm a bullish reversal, LINK would need to break above the descending trendline visible on the short-term chart. A move through this line would signal that wave 2 may have bottomed and shift the focus to upside targets between $21.10 and $25.33.

Price Trapped Between Key Levels

At present, LINK was trading between clearly defined support and resistance. Until either side breaks, price movement is likely to remain range-bound. A push above $18.45 would be the first sign of bullish continuation, while a drop under $16.39 or $15.69 would signal growing pressure from sellers.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.