Chainlink Price Eyes $46 as Bulls Defend Key $13 Level

The Chainlink price has shown an impressive recovery after testing the 0.5 Fibonacci level of $15.59 and appears poised to continue its upward momentum. Given the current market sentiment, crypto enthusiasts have expressed strong interest and confidence in the asset.

Expert Bold Prediction for Chainlink Price

On August 7, 2025, a well-followed crypto expert shared a post on X and made a bold claim. In a post, the expert noted that Chainlink price still has a clear path to hit $46 level as long as it holds above the support level of $13.

This bold prediction by experts gained widespread attention from crypto enthusiasts.  It comes at a time when most cryptocurrencies, including the top ones, are struggling to gain momentum.

At press time, Chainlink’s price stands at $16.80 and has climbed by a decent 2.45% in the past 24 hours. Despite the surge in price, the asset’s trading volume dropped by 22% during the same period. This fall in the trading volume suggests weak momentum in the asset.

Bullish On-Chain Metrics

However, traders and investors who have been participating appear to be betting on the bullish side, as revealed by the on-chain analytics tool Coinglass.

Per the spot inflow/outflow metric, over $1.37 million worth of LINK tokens have left the exchanges over the past 24 hours. This substantial outflow of tokens from exchanges to wallets hints at potential accumulation by the investors and long-term holders, which could create buying pressure and trigger an upside rally.

Not only that, but so far, traders have also appeared to be strongly betting on the bullish side. Data reveals that traders were over-leveraged at $16.05 and $17.13 are the major liquidation levels.

They have built $11.12 million of long positions and $7.02 million of short positions at these levels.

When combining these on-chain metrics, bulls are dominating and are pushing the LINK price back toward the breakout level of $18.

Chainlink Price Action and Technical Analysis

According to expert technical analysis, Chainlink price has just retested the 0.50 Fibonacci level of $15.60. This retest comes after the asset broke out of a strong resistance level at $17.70, which later turned into support but failed to hold, leading to the current pullback.

At present, Chainlink’s price is once again attempting to reclaim the key resistance level of $17.70. The asset may continue to trade sideways or within a narrow range based on recent price action unless it breaks through and reclaims the $18 level.

If this happens, the asset could experience a quick rally, surging by 50% to reach the $27 level in the future.

The ongoing price recovery has bullish the Supertrend technical indicator, as it has moved below the asset’s price and turned green. This shift suggests that the asset is in an uptrend with strong buying pressure, which on-chain metrics has already confirmed.