Chainlink price is quietly accumulating towards what could be its next giant movement. After weeks of consolidation, LINK price has at last taken back the pivotal 200 EMA, that line that on occasion divides weak rallies from actual trend reversals. And if history repeats, this could be where the next strong pump begins.
Crypto analyst Marcus Corvinus pointed out that LINK is now trading comfortably above the 200 EMA, with bulls finally taking back control after weeks of indecision. In his words, “this is where the bulls take control.”
The chart shows LINK price breaking out of a tight consolidation range and retesting the $16–$17 area, a key zone that has flipped from resistance to support. This kind of structure often sets up the market for a sustained upside move once momentum builds.
Corvinus added that he’s looking for a small pullback to the EMA before a breakout candle confirms the move. If that happens, LINK could easily stretch toward $20 and beyond, levels not seen since early 2022.
On-Chain Data Confirms the Setup
Backing up the technical picture, on-chain analyst Ali shared data showing over 54.47 million LINK accumulated around $16. That’s a huge cluster of buying activity, forming a strong base of support.
54.47 million Chainlink $LINK accumulated at $16. Strong support zone! pic.twitter.com/n0jsibLOIE
— Ali (@ali_charts) October 21, 2025
In simple terms, this means a lot of investors now have their cost basis around that level, so they’re unlikely to sell below it. When this happens, it creates what’s called an “on-chain support wall,” a zone where dips get aggressively bought up.
That’s already showing on the charts: each time LINK price dips near $16, the bounce is immediate. Buyers clearly aren’t waiting around.
Why Momentum Is Shifting
Momentum metrics are starting to turn bullish. Volume is up, RSI is up, and most importantly, the price of LINK is now closing above key moving averages. These are early signs that a reversal of trend is happening.
This also fits into a broader narrative in the market: Bitcoin is stabilizing, altcoins are picking up volume, and quality projects such as Chainlink are likely to take the lead in recovering first.
With the 200 EMA having recovered and firm on-chain support just below, LINK now has the technical support to build a new leg higher.
What to Watch Next For LINK Price
The first zone to watch is $16–$16.50, which should now act as solid support. If LINK holds above this, a breakout toward $19–$20 becomes increasingly likely.
However, if the bulls are unable to maintain $16 and the price closes below the 200 EMA again, short-term traders may seek re-entry at $14.50. Nevertheless, the bigger picture structure continues to be bullish as long as the higher lows continue to form.
Chainlink price is showing strength again, and this time, both technical and on-chain data are in sync.
A clean reclaim of the 200 EMA, heavy accumulation around $16, and improving sentiment all point to one thing: momentum is building.
As Marcus Corvinus put it, “They’re building momentum…” and if the market confirms it, a hard pump could be just around the corner.