Chainlink price poised for a rally as reserves pass 280k LINK

Chainlink price has defended support at $21, aligning with the 0.618 Fibonacci, Bollinger Bands, and Value Area High. Bullish volume inflows and record reserves signal potential continuation toward $29 resistance.

Chainlink (LINK) price continues to display strength as action consolidates above the $21 level. With multiple technical confluences supporting this zone, the bullish structure remains intact, setting the stage for further upside.

The token has also extended gains for five consecutive days, reaching a two-week high as whale accumulation and growth in the new Chainlink’s Reserves add further momentum.

Chainlink price key technical points

• Support Zone: LINK holds $21 support with confluence from the 0.618 Fibonacci, Bollinger Bands, and value area high.
• Bullish Structure: Market structure continues to print higher highs and higher lows.
• On-Chain Activity: Chainlink reserves surpass 280,000, the highest level since establishment.

Chainlink has found strong support at $21, where key technical indicators align. The 0.618 Fibonacci retracement, Bollinger Bands midpoint, and the value area high all converge in this region, providing a strong base for bullish continuation. Price has already bounced decisively from this support, backed by notable bullish volume, signaling growing demand. Support from Fibonacci retracements and moving averages suggests that maintaining this level could drive a bullish push toward $26 and $30.

This bounce has reinforced the broader bullish market structure, with consecutive higher highs and higher lows continuing to form. From a structural standpoint, LINK’s next upside objective lies at the $29 resistance, which remains the key level to watch for confirmation of extended momentum.

Beyond technicals, on-chain activity further supports the bullish case. The Chainlink reserve has officially surpassed 280,000, marking its highest level to date. This record figure highlights growing accumulation and confidence among holders, which often precedes stronger price expansion. Sustained reserve growth is likely to influence price action positively in the coming weeks.

What to expect in the coming price action

As long as Chainlink maintains its $21 support zone, bullish continuation toward $29 remains the probable scenario. Sustained buying volume and record reserve growth further strengthen this outlook, though traders should monitor for any breaks below support that could delay momentum.