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LINK Core Highlights
Technical analysis points to the five-wave pattern of the US$13 threshold
Strategic Reserve Continued LINK Accumulation Strategy
Chainlink (LINK) price touched approximately US$12.11, and after rebounding from the US$11 support level, it rose by approximately 6.2% in 24 hours. Technical analyst Hov pointed out that LINK has completed a five-wave rally since its September low, suggesting there is still potential for further upside. The main resistance area is around $12.80 to $13, and the secondary target is seen at $15.
Chainlink Strategic Reserves recently acquired approximately 97,500 LINK tokens worth approximately US$1.1 million, bringing its total position to 5.96 million LINK. Analyst Quinten François pointed out that LINK hit a high of $55 in 2021, when many major initiatives, including numerous current integrated applications and strategic reserve plans, had not yet been implemented.
LINK Price Trend Analysis
Chainlink (LINK) prices have regained their footing above US$12 after a recent correction, and market participants are currently focusing on the resistance range of US$12.80 to US$13. LINK prices remained at approximately US$12.11, recording a 6.21% increase in 24 hours. Asset prices fluctuated between $11.25 and $12.22 during trading hours.
data shows that the 24-hour trading volume is approximately US$538.65 million, and Chainlink's total market value is close to US$9.06 billion. This upward trend comes after the tokens found support at the weekly level of $10.70 to $11, which has historically attracted significant buying interest.
Technical Analysis: Five-Wave Structure Pointing to US$13
Cryptocurrency analyst Hov identified that LINK has completed a series of five waves of gains since its September low. He said on social media: "The last update I said LINK is close but not ready and we need to push up again to resistance to complete the fifth wave from the low. We did it, and now the charts are interesting. We finally have the structure to start looking for potential A+ opportunities."
According to Hov's technical disassembly, the current setting allows the market to continue through wave C or wave 3, before it may face a more significant correction later. Analysts further speculated that the recent peak could constitute an expanding fourth wave pattern. Under this scenario, the subsequent bullish phase could theoretically push the price to $51. However, this forecast is a long-term technical possibility rather than a short-term price expectation.
Looking at the four-hour chart, LINK rebounded from around US$10.60 to a level above US$12. The upper track of the Bollinger Band is located near US$12.93, and the middle track provides immediate support at approximately US$11.73. The MACD indicator has broken through the signal line, and the histogram value remains in the positive region.
Futures market data showed a mixed trend. Coinglass reported that trading volume fell 14.91%, while open interest rose 1.78%.
Strategic Reserve Maintaining LINK Accumulation Strategy
Onchain Lens's on-chain data analysis shows that Chainlink Reserve purchased approximately 97,500 LINK tokens worth approximately US$1.1 million. In the past 30 days, the Reserve Bank has purchased a total of approximately 480,700 LINK units worth US$5.5 million. Currently, the total holdings in the reserve pool are approximately 5.96 million LINK, valued at nearly US$68.71 million.
Market analyst Quinten François shared his views on the long-term trend of LINK through the X platform. He emphasized that LINK had reached approximately US$55 in 2021, and no significant developments had occurred at that time, including cooperation with SWIFT, CCIP deployment, DTCC partnerships, strategic reserve operations, institutional tokenization efforts, and various other Chainlink applications.
The long-term price chart he accompanied shows that LINK is approaching a downtrend line extending from its historical highs in 2021. Currently, LINK is trading below that multi-year resistance line while simultaneously challenging immediate resistance levels of $12 to $13, while there is solid support around $11.
