Key Insights
- Chainlink breaks multi-year triangle, trades above $25, with Fibonacci targets pointing toward $31, $52, $98.
- Daily chart shows strong bullish momentum; LINKBTC recovery from oversold adds strength to short-term outlook.
- Analysts watch $23–$25 support retest as LINK eyes $30 resistance, confirming potential sustained rally.
Chainlink (LINK) is trading at $26, showing a 3% rise in the past 24 hours. Over the last week, LINK has gained 19%, supported by steady trading activity. The 24-hour trading volume stands at $3.45 billion, reflecting continued interest in the token.
LINK has been in a strong upward trend since mid-July, moving from below $20 to approach the $26 level. This move comes after reclaiming previous resistance zones, suggesting that momentum remains on the side of buyers for now.
Long-Term Breakout Structure
Analyst Ali shared a chart showing LINK breaking out of a multi-year symmetrical triangle pattern. The breakout places the token above the long-term resistance range between $23 and $25. Ali commented, “Chainlink $LINK: One more retest before Valhalla!” suggesting the possibility of LINK returning to the breakout zone before continuing higher.
The chart also applies Fibonacci extension levels to project potential long-term targets. Key resistance sits near $32, followed by higher extensions at $52.30 and $98.15. A successful retest of the breakout zone would add strength to the bullish case.
Daily Outlook Confirms Momentum
CRYPTOWZRD shared a daily technical outlook noting that LINK closed strongly bullish. According to the analysis, “A further upside move is very likely as LINKBTC is moving up from an extreme oversold condition.” The daily chart shows LINK pushing higher after breaking through previous descending trendlines, with price now consolidating in a strong position above $25.
The structure suggests that LINK could aim toward the $30 psychological level, where horizontal resistance is marked. Recent higher highs and higher lows on the daily timeframe further confirm the continuation of bullish momentum.
Market Outlook and Next Steps
Both long-term and short-term charts suggest strength in LINK’s current rally. The multi-year breakout shows the possibility of a sustained expansion phase, while the daily outlook points toward near-term upside toward $30.
Analysts emphasize that a retest of the $23–$25 support zone remains possible before the next move higher. Traders are watching to see if LINK can sustain above $25 while maintaining momentum in LINKBTC, which would help validate the bullish scenario. For now, Chainlink continues to trade with strong momentum, leaving the focus on whether the next breakout leg will take price toward the $30 mark.
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