Chainlink price presses toward $15.30 as breakout setup builds
LINK holds above $14.50 with resistance at $15.30
Chainlink (LINK) continued to recover in early May, stabilizing near $14.70 after rebounding from April’s sharp selloff. Despite breaking a descending trendline late last month, the cryptocurrency remains pinned below the $15.20–$15.30 resistance band, which has capped upward momentum since mid-April.
The current consolidation comes as the market braces for a technical resolution, with LINK trading inside a symmetrical triangle on lower timeframes. Bollinger Bands are narrowing on the 4-hour chart, often a precursor to a volatility expansion. Meanwhile, the Relative Strength Index hovers around the neutral 50 mark, reflecting indecision among bulls and bears alike. Momentum remains cautiously optimistic, with MACD showing a recent bullish crossover above the zero line.
While the broader crypto market shows signs of fatigue, LINK has managed to hold above its short-term trendline support, anchored near $14.50. The 200 EMA at $14.17 offers deeper structural support should selling pressure resume, though bulls continue to protect the $14.40–$14.50 zone heading into the weekend.
LINKUSD price dynamics (March 2025 - May 2025) Source: TradingView.
May 2–3 outlook: Breakout or breakdown likely imminent
Heading into May 2 and 3, all eyes remain on whether LINK can clear the $15.30 ceiling on strong volume. A decisive close above this level would confirm a bullish breakout, with upside potential toward $16.80—a level that previously aligned with the 0.618 Fibonacci retracement. Conversely, failure to hold the $14.40 base may trigger a fresh round of selling, with $13.80 seen as the next key support.
Intraday structure continues to tighten, and with the RSI neither overbought nor oversold, traders are watching closely for directional confirmation via candlestick closes and volume surges. The next 24 to 48 hours are likely to define the broader trend for May, especially if LINK breaks out of its current range.
As discussed in our prior April coverage, LINK was forming a rounded base near the $14 zone, signaling early accumulation despite broader crypto uncertainty. That base has since matured into a potential breakout structure, and the token is now approaching the critical $15.30 inflection point. Until a clear resolution emerges, price action may remain choppy—though any breakout with follow-through could mark the start of a new trend leg.
