Chainlink (LINK) Poised for $32 Surge as Bullish Technical Patterns Emerge

Chainlink's native token LINK is showing strong potential for a 126% rally to $32, as analysts identify key bullish technical formations. The cryptocurrency has formed a double bottom pattern on weekly charts—a classic reversal signal—while simultaneously consolidating within a falling wedge. These patterns typically precede significant upward movements when supported by improving market structure.

Bullish momentum continues to build, with LINK's 30-day Market Value to Realized Value (MVRV) ratio reaching monthly highs, reflecting increasing trader confidence. The $10 support level has proven resilient through multiple tests, establishing a solid foundation for potential price appreciation. Traders are now awaiting a decisive breakout above wedge resistance to confirm the anticipated upward trend.

While macroeconomic challenges persist across cryptocurrency markets, with renewed tariff concerns weighing on overall sentiment, LINK appears positioned to outperform in the coming months. Its price action has begun decoupling from broader market weakness, suggesting independent strength. The convergence of these technical factors indicates accumulating energy for a substantial price movement—one that could establish new trading ranges for LINK in 2025.