Chainlink LINK Breaks Key Resistance, Bullish Momentum Targets $10.20–$10.40
Chainlink (LINK) has captured market attention with a decisive breakout above the $8.90–$9.00 resistance zone, signaling a potential resumption of its upward trajectory. The token now trades at $9.12, up 1.56% over 24 hours, with analysts pointing to a validated ascending triangle pattern on the four-hour chart.
Technical confirmation came via a retest of former resistance as support, reinforcing the bullish case. Market sentiment is shifting as accumulation patterns emerge, with targets now set at $9.50 and potentially $10.20–$10.40. A failure to maintain four-hour closes above $9.00 WOULD invalidate the thesis.
Trading volume stands at $485 million amid weakening bearish momentum, suggesting institutional interest may be building. The breakout follows weeks of consolidation, with LINK's market capitalization now approaching $6.5 billion.
