Chainlink Eyes $46 High—But Can Bulls Protect the Floor?
Chainlink (LINK) could be poised for a major upside move—but only if bulls defend one critical level.
Renowned crypto analyst Ali Martinez recently stated that “Chainlink still has a clear path to $46 as long as the $13 support level holds strong.”
That bold forecast offers a compelling long-term target, but current technical conditions suggest that LINK’s climb will not be without resistance.
Chainlink Momentum Stalls, Indecision Grows
On the daily chart, the Chainlink price is showing signs of a consolidation phase after failing to sustain upside traction.
Both the 9-day and 20-day exponential moving averages have started to flatten, signaling a lack of directional momentum. This kind of sideways price behavior is often a precursor to a breakout—or a breakdown—depending on whether bulls or bears take charge.
Daily chart for LINK/USD (Source: GeckoTerminal)
Adding to the uncertainty, the MACD recently flipped bearish, with the signal line now above the MACD line. This indicates waning bullish momentum and increasing seller dominance, albeit at a gradual pace. Meanwhile, the RSI remains balanced near the midline, suggesting that the market is still undecided and lacks strong directional bias.
Resistance Stands in the Way
While Martinez’s $46 target remains a longer-term ambition, LINK first has to break through several near-term resistance levels.
The most immediate ceiling sits around $16.74, with additional pressure zones at $17.26 and $17.39. Unless these levels are reclaimed with strong volume, it’s unlikely the asset will build the kind of momentum required to challenge much higher price levels.
A major obstacle lies at the ask wall at $20, where over $1.1 million in sell orders could cap any impulsive move. Clearing this would likely trigger a sharp rally toward the next psychological barrier at $22, and eventually $25, which holds yet another ask wall with over $1 million in liquidity. Overcoming these would be essential milestones on the road to the much-discussed $46 target.
Can Support Hold?
Martinez’s call hinges on the $13 level holding firm—and the current order book shows that bulls are defending key zones above that threshold. Bid walls at $15.44, $15.20, and especially $15.00 (with over $677,000 in buy orders) are acting as strong defensive lines. If the Chainlink price breaks below $15, the next line of defense will be $13, and failure to hold that would invalidate the bullish outlook.
Importantly, LINK has been hovering above these key bids, suggesting that institutional and large-scale traders are positioning for accumulation. But if the Chainlink price were to lose these supports—especially the $15.00 wall—the risk of cascading liquidations and a trip to $13 becomes a real possibility.
Strategic Outlook: Bulls Must Prove Themselves
For short-term traders, a break above $16.74 followed by confirmation above $17.26 could offer a low-risk long entry, with potential targets toward $20 and beyond. Stops could be placed just below $15.65 to avoid being caught in a downside move.
For swing traders eyeing Martinez’s $46 target, the play hinges on one thing: defending $13 at all costs. As long as this level remains intact, LINK retains its bullish macro structure. But until momentum indicators reverse and resistance levels are cleared, caution is warranted.
Bearish traders may look for rejection at the $17.26 or $20 walls to enter short positions, with downside targets near $15.65 or potentially lower if the $15 wall gives way.
Final Thoughts
Ali Martinez’s $46 price target for Chainlink presents a compelling bullish roadmap, but the journey depends heavily on whether bulls can hold $13 and push through layered resistance.
The current technicals reflect a state of equilibrium, with no clear trend dominance. But the order book shows exactly where the battles will be won or lost—starting at $15.00 on the downside, and $20.00 on the upside.
If the bulls can reclaim dominance, LINK could break out of its slumber and ignite a rally. However, if critical support falters, the path to $46 may be delayed—if not derailed.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
