Chainlink (LINK) Shatters Key Technical Resistance, $18 Rally in Sight

Chainlink's LINK token has decisively broken above its 200-day exponential moving average, signaling a potential trend reversal. The breakout from a multi-week descending channel pattern suggests growing bullish momentum, with technical analysts now targeting $15.50 as an immediate objective and $18 as a longer-term prospect.

The $13.30-$13.60 zone has transformed from resistance to support, creating a foundation for potential upward continuation. Market participants are closely watching whether LINK can sustain its position above the psychologically important $14 level, which could confirm the strength of the current technical setup.

This move comes amid improving sentiment across the cryptocurrency sector, with altcoins showing renewed strength against Bitcoin. The validity of the breakout is reinforced by its occurrence on significant trading volume, a classic confirmation of technical patterns.