Chainlink (LINK) Primed for Breakout: Technicals Point to $18–$25 Target Zone
Chainlink's native token LINK is exhibiting strong bullish signals after months of consolidation around the $13 level. The cryptocurrency is currently testing its 50-day moving average, a critical technical indicator often preceding trend reversals.
Market data shows increasing bullish momentum as the Relative Strength Index (RSI) emerges from oversold territory. On-chain volume patterns reveal significant accumulation between $11.50–$12.00, indicating potential institutional buying at these support levels.
While displaying a descending triangle formation—typically bearish—the extended accumulation period suggests this pattern may instead precede an upward move. A confirmed breakout above the descending trendline could fuel a rally toward the $18–$25 resistance zone.
