newsbtc.com
Chainlink ($LINK) has shown remarkable resilience amid market volatility, holding above key support levels while other assets experience sharp fluctuations. Despite uncertainty across the crypto space, $LINK has surged over 12% since Wednesday, signaling strong bullish momentum and suggesting that the price is ready to continue climbing.
Top analyst Carl Runefelt shared a technical analysis on X, revealing that $LINK is forming a bullish pattern that could lead to a significant breakout. According to Runefelt, Chainlink is on the verge of breaking out of a Descending Triangle, a structure that often precedes strong upward moves. If this breakout materializes, $LINK could enter a new bullish phase, pushing toward higher resistance levels.
As market sentiment shifts and altcoins start to move, investors are closely watching Chainlink’s price action. A successful breakout from its current consolidation phase could trigger a new rally, reinforcing $LINK’s position as a top-performing asset in the crypto market. The coming days will be crucial in determining whether Chainlink can sustain its momentum and enter a new phase of price discovery.
Chainlink Eyes Major Breakout as Price Holds Bullish Structure
Chainlink ($LINK) has experienced its fair share of market volatility, but its long-term outlook remains strong. The project has continued to secure strategic partnerships, including a key collaboration with Ripple, further solidifying its position as a leader in the real-world asset (RWA) market. As Chainlink’s adoption grows, analysts expect it to be one of the top-performing assets in this market cycle.
Despite short-term price fluctuations, $LINK is attempting to clear key supply levels, which could trigger a strong upward move. Top analyst Carl Runefelt shared a technical analysis on X, highlighting that $LINK has been trading in a bullish pattern since late January. According to Runefelt, Chainlink is currently inside a Descending Triangle, a formation that often leads to breakouts with significant upside potential.
Runefelt believes a breakout is imminent, stating that $LINK could break out of this pattern at any hour. If the breakout happens, he expects the price to quickly reach the $30 mark, a level not seen in over two years.
With fundamentals strengthening and technical indicators pointing toward a rally, Chainlink is in a prime position for a major move in the coming days. Investors are watching closely to see if $LINK can capitalize on its momentum and confirm a bullish breakout.
$LINK Holds Strong at $25, Eyes Multi-Year Highs
Chainlink ($LINK) is trading at $25, showing strong bullish momentum as it looks ready to reclaim higher levels. After weeks of consolidation, $LINK appears poised for a breakout, with investors closely watching the $27 resistance level as the next major hurdle. If bulls successfully push above $27 and hold it as support, a massive rally into multi-year highs will likely follow, setting the stage for a new bullish phase.
However, to maintain this bullish structure, $LINK must hold strong above the $22 mark. Losing this level could result in a deeper pullback, delaying the expected uptrend. Despite market fluctuations, Chainlink remains one of the strongest assets in this cycle, with analysts predicting a significant upside in the coming weeks.
With technical indicators aligning for a breakout and strong fundamental backing, $LINK is in a prime position to surge higher. Investors are now waiting for confirmation of a trend reversal, which would solidify $LINK’s potential for new highs. If bulls successfully clear key resistance levels, Chainlink could soon enter a parabolic rally, reinforcing its role as a top-performing altcoin in the current market cycle.
Featured image from Dall-E, chart from TradingView