Chainlink (LINK) Shows Bullish Signals With Potential to Break Above $42 If $20 Resistance Is Reclaimed

Key Points

1. Chainlink (LINK) is trading above the 0.618 Fibonacci retracement level, indicating bullish momentum.

2. A double-bottom breakout above $15.39 suggests a continuation toward the $31 resistance level.

3. Weekly analysis shows LINK breaking out from an accumulation zone between $5 and $9.50, with potential to push past $20.

4. Key resistance levels are identified at $20.186, $26.500, and $30.244, with a potential breakout target of $44.861.

5. Support levels to watch include $15.089 and $12.299, with a breakdown below $10.025 risking a drop toward $7.78.