Chainlink Revisits $13 Support After 4 Weekly Bounces: Here's Why It Matters

Source: CryptoNewsNet Original Title: Chainlink Revisits $13 Support After 4 Weekly Bounces Here’s Why It Matters Original Link: Chainlink moved to $13.87 after a clear weekly dip that brought the price back to the base of its wide rising channel. The level matches a zone where four earlier reactions formed on the same trend path. Traders now watch the support as the market asks one central question: Will the structure spark a retracement move above the zone in the near term?

A Weekly Structure Built on Repeated Support Reactions

The chart shows a long trend path dating back to 2023. Four touchpoints mark the ascending support line. Each point produced a bounce that kept the broader channel intact.

The latest dip returns the asset to that same band. The current print shows LINK at $13.87, with the weekly wick touching the trend line. The structure also sits above a visible “Key Zone” that appears between $10 and $13 on the chart.

The image highlights an extended range created over several years. Within this zone the price has held several times after strong declines. The analysis notes that LINK sits inside what is called a “re-accumulation” region.

Channel Range Points Toward a Possible Move Into 2026

The upper boundary of the channel draws near $32 to $35. A curved projection on the chart indicates a possible long recovery arc that reaches the higher levels by 2026. This projection is not shown as a forecast but appears as a structural outline of past rhythm.

The mid-channel dotted line holds near the $20 area. Many traders use this midpoint as a balance marker. A break above it often signals continued strength. LINK remains below that line for now.

The lower boundary where LINK stands has been tested four times. The market often views such repeated tests as structural confirmation. Yet a close below the level would change the trend shape. The chart does not show such a break at this time.

Market Focus Turns to the Support Band and Rising Structure

The visible support band runs across the long consolidation region that held through 2021 and 2022. It appears shaded in light blue on the image and spans nearly $3 of price space.

The analysis states that LINK has “touched the bottom of the ascending channel” and may see retracement. This is presented as an observation within the structure and not as a prediction. The idea matches the chart’s visual flow.

The trend channel extends far into 2026. Its slope shows steady upward drift. The price now sits at the lower extreme, which naturally draws attention. Many traders watch such levels closely due to past reactions.

The information in the chart stays within structural ranges only. No extra signals or off-chart elements appear. The chart focuses on price with weekly candles and key zones.