LINK has moved back into a price area that several analysts describe as a key accumulation zone after an extended decline. The report says higher-timeframe charts show a GannWyck Model 1 accumulation structure, suggesting that after a multi-year drop from prior cycle highs, the token may be approaching the last stage of its accumulation cycle.
Higher-timeframe pattern draws attention
Chainlink remains one of the largest oracle networks in crypto, supplying off-chain data to DeFi applications. Analysts argue that the accumulation thesis is not limited to chart structure. They also point to network growth and firmer fundamentals. Factors cited in the report include attention around Grayscale’s ETF application, purchases by Caliber Investments, and Chainlink’s expanding position in data infrastructure.
The article also notes that BNB Chain has adopted Chainlink data standards in connection with US public data initiatives. That development is presented as another element supporting the broader case for LINK. In the analysts’ view, the token is nearing the end of an accumulation period at an important support area, with price action and network utility moving together.
$7 to $8 becomes the main support focus
On the price side, LINK peaked near $30 at the end of 2024 and then spent the next two years in a downtrend marked by lower highs and lower lows. Ongoing selling pressure pushed the token into the $7 to $8 range, which is now being treated as a relatively stable support area.
Within that region, analysts identify $6.50 to $7.50 as the more important accumulation band, where multiple layers of support are said to exist. On the upside, $10 stands out as the first major level to watch. A clear move above it would suggest that the downtrend is losing strength and that buying interest is returning. In a staged recovery setup, the report lists possible ranges at $13 to $15, then $18 to $20, followed by $25 to $27. A longer-range objective is placed at $28 to $30.
Weekly chart view outlines broader targets
Analyst Crypto Patel offers a second technical view based on the weekly chart. According to that reading, LINK has remained inside a downward channel since its 2021 peak near $50. Over the last three weeks, weekly price action has moved back into what is described as a strong accumulation area.
That analysis places the main accumulation band between $4.75 and $7.85. The article states that LINK has fallen about 86% to 87% from previous highs, and some analysts believe the return to this zone could form a base for a new upward move. If the token breaks above the top of the channel, the first target is around $21.35, followed by the prior cycle high near $52.22. The report also mentions a more optimistic long-term projection toward the $100 area in 2028 to 2029, while making clear that these figures come from technical analysis and price forecasts rather than guarantees.