Chainlink LINK Price Surge: Cup and Handle Pattern Signals Potential $30 Breakout

Chainlink has surged 24.26% over the past month, breaking through the critical $18–$22 resistance zone to trade NEAR $24.20—marking a seven-month high. This rally coincides with significant whale activity, as large holders accumulated 1.1 million LINK tokens worth approximately $27 million. Network growth has also accelerated, with 9,600 new wallets added during this period.

Technical analysts are highlighting a bullish Cup and Handle pattern forming on weekly charts, with a confirmed breakout potentially propelling LINK toward the $29–$30 range. Mid-term price targets cluster around $33–$38, while long-term projections suggest potential moves exceeding $57. The token's sustained position above the 200-day moving average underscores strong institutional confidence in the asset.

On-chain analysis reveals strategic accumulation patterns between $18–$22, mirroring historical behavior that preceded LINK's previous parabolic rallies. Trading volume spikes further validate the breakout momentum, with market participants anticipating potential 5x–6x returns if key resistance levels are decisively broken.