Chainlink Surges 11% Daily After Reclaiming Critical Support Level

Chainlink (LINK) has rebounded 24% after dropping below a crucial support level earlier this week. The cryptocurrency surged over 10% on Friday, reclaiming the $14 resistance as support.

Key Developments:

LINK hit a four-month low of $11.71 before recovering.
The price fluctuated between $12.5 and $13.5 until breaking above $14.
LINK reached a high of $14.71 but retraced to the $14.4-$14.5 range.
Analyst Ali Martinez indicated that sustaining this level could lead to a potential rebound towards $24.
Chainlink is in an ascending parallel channel since July 2023, with expectations of reaching mid-channel levels and potentially the upper boundary at $45.
Whale accumulation is notable, with over 3 million LINK purchased recently.
A significant address bought 863,174 LINK for $12.1 million, holding a total of 1.07 million tokens valued at $15.53 million.
Analysts suggest a possible retest of the $10 mark before establishing a stable bottom.
Trader Crypto Rand noted a falling wedge pattern forming since early 2025, with recovery signs supporting a breakout near $20.

As of now, LINK trades at $14.51, reflecting an 11.6% increase within the day.