Chainlink (LINK) Holding Key Levels Between $17–$20 — Will Momentum Continue Higher?

Chainlink (LINK) is settling into a solid range between $17 and $20.

Growing global M2 liquidity points to potential bullish momentum.

A break above $20 could signal the beginning of its next upward move.

Chainlink (LINK) traders are keeping an eye on $20, as rising market activity and shifts in global liquidity hint that the next upward move could be on the horizon.

Technical Setup Points to a Crucial Resistance Zone

Chainlink bounced from a low near $10.94 to a high near $27.89 before consolidating between $17 and $20,and making it a key consolidation area. This rebound aligns with the 0.5 Fibonacci retracement level, and is signaling it as a potential base for the next trend.

Source: Alcoin Sherpa Via X

The $18.97–$19.97 region holds a strong confluence for the 50, 100, and 200 EMAs. These indicators are the dynamic resistance,which are limiting upward momentum for now. Volume data shows increased activity during October’s selloff, followed by steady accumulation — a sign that buyers are gradually returning.

A confirmed breakout could open the path toward $21.41,while a rejection may send the price back to $17.41 or even lower.

Macro Outlook Tied to Global Liquidity Cycles

Another analyst Master Kenobi presented a broader analysis comparing Chainlink’s price movements with global M2 Money Supply trends. The chart shows a recurring relationship between liquidity expansion and LINK’s market cycles, with LINK often lagging global liquidity shifts by roughly 320 days.

Colored arrows on the chart trace major tops and bottoms since 2023, aligning with M2’s cyclical changes. When liquidity expands, LINK tends to form higher lows and rally.

Current data shows M2 stabilizing at elevated levels, suggesting the possibility of a base-building phase for LINK near $18. If liquidity continues to increase, LINK could repeat its historical pattern of upward movement following expansionary phases in global money supply.

Short-Term Range Trading Continues

As at press, Chainlink is at $18.35 with a weekly gain of 1.68%.The ongoing consolidation shows a balance between buyers and sellers, as they await clearer signals

A close above $20 could attract renewed momentum,for traders are watching how LINK reacts near these levels to anticipate the next major swing.

As Chainlink maintains its key range, technical and macro factors continue to shape its near-term direction. The next breakout or breakdown from this zone will likely define the pace and strength of its next trend.

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