Chainlink LINK Shatters Key Resistance, Eyes $30-$40 Price Target as Bullish Pattern Emerges

Chainlink''s LINK token has decisively broken through a multi-month descending trendline that capped its price action since late 2024, signaling a potential trend reversal. The $15.21 breakout follows repeated rejections at this level in March and May, with the cryptocurrency now testing immediate resistance at $16.00.

Technical analysts observe a bullish pennant formation suggesting 135% upside potential. Market expert CryptoWZRD notes the pattern''s measured move indicates targets between $30-$40, which would retest LINK''s 2024 all-time highs. The project continues demonstrating strong fundamentals, maintaining its position as the second-most active crypto asset in GitHub development activity.

Notably, LINK has shown remarkable price resilience amid bearish market conditions - a phenomenon traders call ''sentiment divergence.'' Historically, such strength during market downturns often precedes significant rallies when broader sentiment improves.