Chainlink Price Holds $12 Support, Double Bottom Pattern Develops
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 08 2026- Support Zone Analysis: Chainlink's current price is firmly holding at the $12 high-time-frame support zone, which aligns with the value area low and Point of Control, indicating strong buyer defense and suggesting a base-building phase in the market.
- Double Bottom Formation: The developing double bottom pattern could signal a potential breakout towards the $19 resistance level, and if confirmed, it would mark a macro trend shift, boosting market participant confidence.
- Market Structure Dynamics: Although currently in a broader downtrend, maintaining the $12 support level provides buyers with an opportunity to improve risk-reward conditions, increasing the likelihood of a reversal structure if prices stay above this level.
- Future Price Expectations: A confirmed breakout would open the door for a move towards the $19 region; however, failure to reclaim resistance would keep Chainlink range-bound, delaying any macro trend change.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
