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Chainlink (LINK) eyes a rebound as traders buy the dip. Analyst Jelle flags the $29–$34 zone as the key resistance, a clear break could trigger a larger rally.Chainlink (LINK) eyes a rebound as traders buy the dip. Analyst Jelle flags the $29–$34 zone as the key resistance, a clear break could trigger a larger rally.

Chainlink (LINK) Back in the Spotlight as Bulls Target $29–$34

Author: Blockchainreporter

Source: Blockchainreporter

2025/08/21 00:30

2 min read

LINK$9.65-0.51%

BULLS$326.27-3.24%

Chainlink (LINK) is once again drawing attention, and this time it’s leading a modest market rebound. Crypto analyst Jelle captured the mood in a recent tweet: “LINK is once again leading the bounce, already up roughly 7% from the lows. It has been strong for a while. Dips continue to be for buying, but once this clears the $29-34 region, the sky is the limit. One to watch.”

That sums up how many traders are thinking: the token has shown consistent strength, traders are buying the dips, and eyes are on a clear run above the $29–$34 zone. As of writing this article, LINK is trading around $24.58, having bounced off recent lows and reclaimed a few short-term support levels. The move has been enough to get momentum traders and on-chain observers paying closer attention again.

Why People are Optimistic

This isn’t just technical bravado. Chainlink still plays a central role as the leading decentralized oracle provider, the plumbing that feeds real-world data to smart contracts. That ongoing utility, plus steady integrations and on-chain activity, gives many investors a reason to believe any sustained buying could have teeth.

Jelle’s $29–$34 range is important because it’s where multiple resistance levels cluster. If the LINK price can push through and hold above that band with solid volume, chartists see room for a bigger run. If it fails there, though, expect a retest of the mid-$20 support areas, which, to be fair, has become a commonly watched buy zone for short-term traders.

Crypto moves fast, and rallies can reverse quickly. Leverage in derivatives markets, sudden liquidity shifts, or broader risk-off headlines can all wipe away gains. Even if fundamentals are sound, traders should watch volume and exchange flows carefully; volume confirms moves; low volume often means a fakeout.

Chainlink’s latest pop has brought it back onto traders’ radars. Jelle’s message, buy the dips, watch the $29–$34 range, is a neat shorthand for the current setup: momentum is there, fundamentals are intact, but confirmation matters. If LINK clears that zone convincingly, more upside looks likely. If not, expect a quieter grind or a deeper pullback toward established support.

Market Opportunity

Chainlink Price(LINK)

$9.65

$9.65$9.65

-1.02%

USD

Chainlink (LINK) Live Price Chart

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Tags:

#On-chain #Oracle