Chainlink (LINK) Breaks Free, Signals Massive Rally – Key LINK Price Targets Revealed

Chainlink (LINK) has broken out of its long-term downtrend, showing strength above key resistance levels. A key pattern formation suggests further upside

Chainlink (LINK) price has broken out of a long-term downtrend and is now eyeing a massive rally. A key technical pattern suggests some analysts are targeting $144 for LINK, supported by Fibonacci extensions. This marks the first time in several years that the cryptocurrency is making a significant move out of bearish control.

Chainlink Price Analysis: Ready for a Rally?

A chart shared by a pseudonymous crypto analyst shows LINK breaking out decisively above a descending trendline that has defined its downtrend since 2021. This breakout is backed by a cup-and-handle pattern, a bullish continuation formation that usually signals potential price growth.

After surpassing the $21.676 resistance level, which aligns with the 0.618 Fibonacci retracement, LINK is now testing it as support to reinforce the bullish thesis. However, the crypto is currently consolidating around $19.22, just below the breakout level, which could indicate potential short-term volatility before a sustained move higher.

The analysis incorporates Fibonacci retracement and extension levels to outline potential price points. As LINK descended, traders may have observed accumulation and reaccumulation zones at the 0.236 ($8.729) and 0.382 ($12.358) levels, respectively, where traders typically anticipate potential upward movement.

Moreover, the 0.5 level ($16.367) served as a midpoint in LINK’s retracement, signaling a point where the cryptocurrency began regaining strength from the downtrend.

Chainlink (LINK) price now eyes a massive move! The downtrend from 2021 is finally breaking, and we're holding strong above it. 🔗 Targets I'm watching closely:

1️⃣ $53

2️⃣ $100

3️⃣ $144

The momentum is building—stay tuned for what’s next!$LINK #LINK #Link $Link pic.twitter.com/rvoTNXiSaV

The 0.618 level ($21.676) acted as a critical breakout point and is now being tested as support to reinforce bullish sentiment. Moving higher, the 0.786 level ($32.336) represents the first major resistance within the new bullish phase, where LINK may encounter some selling pressure.

The 1.0 Fibonacci level ($53.824) is a key psychological and technical target, aligning with previous highs. Further ahead, the 1.272 ($102.856) and 1.414 ($144.232) Fibonacci extension levels suggest potential long-term targets for LINK, contingent on maintaining bullish momentum.

LINK is presently trading at $19.22, showing a 3.14% decrease in the last 24 hours and a 122.98% decline over the past week. Even with the temporary drop, the trading volume, currently at $699 million, indicates an increasing interest in the asset.

The next crucial step is for LINK to stabilize above $21.67. If this occurs, traders can anticipate a push towards $53, followed by potential moves to $100 and $144 based on Fibonacci extensions.

While short-term retracements are possible, the technical structure remains bullish. The breakout above the long-standing downtrend suggests a potential multi-month rally. Maintaining support above $21.67 will be key in determining whether LINK continues its upward trajectory. With strong market interest and growing momentum, Chainlink could be gearing up for a major price move in the coming months.

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