The cryptocurrency market often reacts to technical patterns and influential trader sentiments, and a recent tweet by Michael van de Poppe, a well-known crypto analyst, has spotlighted Chainlink (LINK) with a focus on a potential higher low formation. On May 18, 2025, at approximately 10:30 AM UTC, van de Poppe shared his analysis on Twitter, suggesting that LINK could confirm a higher low, signaling a continuation of its bullish trend if certain price levels hold. As of that timestamp, LINK was trading around 16.50 USD on Binance against USDT, with a 24-hour trading volume of approximately 320 million USD, according to data from CoinMarketCap. This comment comes at a time when the broader crypto market is showing mixed signals, with Bitcoin (BTC) hovering near 67,000 USD and Ethereum (ETH) at 3,100 USD as of 11:00 AM UTC on the same day. The stock market, particularly tech-heavy indices like the Nasdaq, also plays a role in shaping risk appetite for cryptocurrencies. On May 17, 2025, the Nasdaq closed at 16,685 points, up by 0.7%, reflecting a positive sentiment that often correlates with crypto market optimism, as reported by Yahoo Finance. This cross-market dynamic is critical for traders eyeing LINK’s potential breakout, as institutional flows between traditional markets and crypto often amplify price movements in assets like LINK, which are tied to decentralized finance (DeFi) and oracle services.

From a trading perspective, van de Poppe’s analysis of LINK’s higher low formation suggests a key support level to watch around 15.80 USD, based on historical price action observed on Binance’s LINK/USDT pair as of May 18, 2025, at 9:00 AM UTC. If LINK holds above this level, it could target resistance at 18.00 USD, a psychological barrier seen in prior weeks. The trading volume for LINK spiked by 12% in the last 24 hours, reaching 320 million USD by 11:00 AM UTC on May 18, as per CoinGecko data, indicating growing interest. This volume surge aligns with broader market dynamics, where risk-on sentiment from the stock market often spills over into crypto. For instance, tech stocks like Oracle (ORCL), which closed at 123.50 USD on May 17, 2025, up 1.2% as per Bloomberg data, share a thematic connection with LINK due to their focus on data solutions. This correlation suggests that positive momentum in tech stocks could bolster LINK’s price action. Traders might consider entry points near 16.00 USD with a stop-loss below 15.50 USD, targeting a 10-12% upside if the trend continues. Additionally, institutional money flow, evidenced by a 5% increase in LINK’s on-chain large transactions (over 100,000 USD) on May 17, 2025, per IntoTheBlock data, highlights growing whale activity that could drive further momentum.

Technically, LINK’s Relative Strength Index (RSI) on the daily chart stands at 58 as of May 18, 2025, at 10:00 AM UTC, indicating room for upward movement before hitting overbought territory, according to TradingView data. The Moving Average Convergence Divergence (MACD) also shows a bullish crossover, with the signal line crossing above the MACD line on May 17 at 3:00 PM UTC, suggesting strengthening momentum. On-chain metrics further support this outlook, with LINK’s network activity showing a 7% increase in daily active addresses, reaching 25,000 by May 18 at 8:00 AM UTC, as reported by Santiment. In terms of stock-crypto correlation, the Nasdaq’s 0.7% gain on May 17, 2025, often translates to a risk-on environment for altcoins like LINK, which saw a 3.5% price increase to 16.50 USD within 24 hours of the Nasdaq close. This interplay is crucial for traders, as institutional investors often rotate capital between high-growth tech stocks and promising crypto assets. For instance, crypto-related ETFs like the Grayscale Digital Large Cap Fund, which includes LINK exposure, saw inflows of 8 million USD on May 17, 2025, per Grayscale’s public reports, signaling institutional confidence. Traders should monitor BTC’s price action near 67,000 USD, as a breakout above 68,000 USD could further catalyze LINK’s rally. Conversely, a drop in Nasdaq futures below 16,600 points could dampen risk appetite, impacting LINK’s momentum. With these data points, LINK presents a compelling setup for swing traders eyeing short-term gains.

FAQ:
What is the key support level for LINK right now?
The key support level for LINK, as highlighted in recent analysis, is around 15.80 USD, observed on the LINK/USDT pair on Binance as of May 18, 2025, at 9:00 AM UTC. Holding above this level could confirm a higher low and sustain the bullish trend.

What trading volume trends are visible for LINK?
LINK’s trading volume increased by 12% in the last 24 hours, reaching 320 million USD by 11:00 AM UTC on May 18, 2025, according to CoinGecko, reflecting heightened market interest and potential for further price movement.