From an on-chain perspective, Chainlink's In/Out of Money Around Price (IOMAP) data shows that 79% of LINK holders are currently in profit. In addition to identifying profitable addresses, IOMAP also highlights important resistance and support levels based on the token's trading volume.
Large token clusters at certain price levels represent stronger support or resistance levels. According to data from IntoTheBlock, the volume of 'profitable' tokens in the price range from $22 to $25 is greater than the volume from $26 to $28. This suggests that a strong support area could drive the price of LINK towards the $30 mark in the short term.
However, this positive outlook depends on maintaining strong buying momentum. If selling pressure surpasses buying pressure, the price of Chainlink could drop below $20. But for now, the factors lean towards the bullish potential of LINK.