Chainlink (LINK) Is Breaking Out of a 3-Year Pattern: Here Are the Next Price Targets
Main Idea
Chainlink (LINK) is showing signs of a major breakout from a 3-year symmetrical triangle pattern, with potential price targets above $50 by 2026 and $80 by early 2027.
Key Points
1. LINK's price rose 8.7% to $20.90 despite an 11% drop in trading volume, indicating steady upward momentum.
2. Key Fibonacci levels suggest potential price targets of $31.87, $52.30, and $86.15, with $50 achievable by 2026 and $80 by early 2027.
3. Exchange flow analysis shows bullish trends, with large outflows from exchanges in late 2024 and early 2025, followed by recent inflows as price rose toward $25.
4. Technical indicators like RSI (69.72) and MACD (0.704 crossing above 0.489) support bullish momentum but suggest potential short-term consolidation due to nearing overbought conditions.
5. LINK is currently the 13th largest cryptocurrency by market capitalization, with a circulating supply of 678 million tokens out of a total supply of 1 billion.
Description
LINK nears breakout after years in symmetrical triangle, targets above $50 by 2026. Price rose 8.7% to $20.90 despite 11% volume drop, showing steady upward momentum. RSI close to overbought, MACD bullish crossover signals strong but cautious momentum. Chainlink (LINK) is showing signs of a major breakout, pushing against the limits of a huge symmetrical triangle pattern that has been forming since 2021. For nearly three years, LINK’s price has been coiling between a descending resistance line f...
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