Can LINK 5X From Its Current Price? Looking at Its Recent Price Action

Chainlink (LINK), one of the most widely adopted oracle networks in the crypto space, is showing strong signs of a potential breakout. 

Technical analysts and market data suggest LINK could be preparing for a significant upward move — with price targets that place it far above current levels.

After trading around the $14–$15 range in recent days, analysts are eyeing a long-term bullish breakout that could push LINK toward $45 or even higher. 

With historical price levels acting as resistance-turned-support and bullish chart patterns forming, the question now is: Can LINK 5x from here?

Read More: ChainLink Token(LINK) Price Today

Key Takeaways

• Chainlink (LINK) is forming a bullish cup and handle pattern on short-term timeframes.
• Elliott Wave analysis suggests LINK is in the fifth wave of a bullish impulse, targeting $31.85 and $45.50.
• Top Binance traders are increasing long positions, signaling growing market confidence.
• Critical short-term support lies between $13.8–$14, while key resistance is at $15.30–$15.50.
• A confirmed breakout above $32 could set the stage for a full 5x move over time.

Bullish Technical Patterns: Cup and Handle Forming

One of the most bullish signals forming in LINK’s short-term chart is a classic cup and handle pattern — a well-known technical indicator often associated with the continuation of upward trends.

Market analysts point to a potential retest of the $13.8–$14.0 support zone, followed by a move toward the $18–$19 range, which would confirm the pattern's structure. This move, if supported by volume, could kick off a longer-term uptrend.

Elliott Wave Points to $45+

Technical analyst cryptclay suggests LINK is in the final fifth wave of a larger Elliott Wave bullish impulse cycle. According to this framework:

• Waves I through IV have completed.
• Wave V could extend past $28–$32, with target zones at $31.85 and $45.50.

LINK has previously struggled to break above the $28–$32 zone, making it a key resistance level. A breakout with volume above this level would be a critical confirmation point for further bullish momentum.

Binance Traders Are Long on LINK

On-chain sentiment backs up this technical analysis. According to data from Binance:

• Over 64% of top traders are currently in long positions on LINK.
• The Long/Short Ratio shows increasing long dominance over the past week.

This buying behavior suggests that experienced traders expect price appreciation in the near future, aligning with technical indicators calling for a breakout.

Read More: How to Buy ChainLink Token (LINK)

Key Levels to Watch

• Support Zone: $13.8–$14.0

A hold above this level would preserve bullish structure.

• Initial Resistance: $15.30–$15.50

Breaking this range would likely trigger a push to $18–$19.

• Major Resistance: $28–$32

A breakout here could confirm the Elliott Wave V scenario.

• Bullish Target Range: $31.85 – $45.50

Reaching $45 would represent a 5x move from LINK’s 2024 low of around $9.

Could LINK 5X From Here?

While short-term targets hover around $30–$45, some traders speculate that if Chainlink gains major traction through real-world integrations or ecosystem expansion, a long-term rally to $70+ is not out of the question. That would mark a 5x return from its current price near $14.

However, this upside is dependent on broader crypto market conditions, sustained ecosystem growth, and LINK continuing to play a foundational role in Web3 infrastructure.

Frequently Asked Questions (FAQs)

What is the current price of Chainlink (LINK)?

As of writing, LINK is trading around $14–$15, with recent bullish momentum building.

What are the key resistance levels for LINK?

$15.30–$15.50 (initial), $28–$32 (major). Breaking through these with volume could confirm a large-scale breakout.

Why is $45 a significant target for LINK?

$45 is the target suggested by Elliott Wave theory and represents a strong historical supply zone. Reaching this level would signal the completion of a full impulse wave.

Is LINK a good investment for 2025?

That depends on your risk appetite. LINK is considered a core infrastructure token for oracles in DeFi and traditional systems, but it's still subject to crypto market volatility.

What would invalidate the bullish setup?

A drop below $13.8 or failure to gain volume after breaking resistance could invalidate the bullish chart patterns and delay any potential breakout.