Chainlink LINK Eyes $18 as Technicals Signal Potential 126% Rally Amid Tariff Concerns
Chainlink (LINK) has surged 7% in the past week amid growing tariff concerns from the US administration. Traders initially over-leveraged at support ($12.99) and resistance ($13.83) levels, but LINK has since broken through these barriers.
A double-bottom chart pattern suggests a potential 126% rally, bolstered by rising bullish sentiment. LINK’s 30-day MVRV hit a one-month high, while a falling wedge pattern hints at an impending trend reversal. The token now consolidates NEAR a descending trendline—a breakout could propel prices toward $18.
Currently trading at $14.80, LINK eyes a retest of $16. Analysts anticipate volatility as the asset approaches the apex of its technical formation, with macroeconomic factors adding fuel to the momentum.
