Chainlink (LINK) Eyes $150 Target as Breakout from Multi-Year Pattern Signals Macro Uptrend
Chainlink (LINK) has decisively broken out of a multi-year symmetrical triangle pattern on the weekly chart, indicating the potential start of a macro uptrend. Currently trading around $19.35, LINK now holds above key moving averages and its triangle resistance—a strongly bullish technical development.
Analyst Fitzo crypto projects a long-term price target of $150, contingent on sustained market momentum. This forecast is supported by increasing trading volume and a strengthening price structure since mid-2023. Immediate resistance sits at $20.50, where a significant sell wall may test the breakout's validity. A clean break above this level could pave the way toward $26.
The resolution of this three-year consolidation pattern mirrors historical instances where prolonged compression preceded parabolic rallies. Market participants are closely watching for confirmation of this bullish thesis as altseason dynamics continue to develop.