Chainlink LINK Forms Bullish Cup and Handle Pattern, Eyes $30 Breakout

Chainlink LINK News - Chainlink's LINK token is displaying a classic cup-and-handle formation, indicating potential bullish momentum ahead. Analyst Bubbafox notes a well-defined rounded base with a short handle formation near the $25 resistance level, suggesting an imminent breakout toward $30 if buying pressure confirms the move. The 200-day moving average and mid-term trendline provide strong support above the $21–$22 zone. Currently trading at $24.03, LINK has gained 2.35% over the past 24 hours, with a market capitalization of $16.28 billion and daily trading volume of $1.23 billion. Intraday charts show robust buyer defense at the $23.0–$23.5 range, while a decisive close above $23.95–$24.89 could trigger accelerated gains. Sustained volume remains crucial for validating the breakout scenario. The cup-and-handle pattern, widely recognized as a precursor to upward price movement, approaches completion. A decisive break above the $25 resistance—coinciding with a long-term descending trendline—could catalyze a rally toward $30 or higher levels. Market participants are closely monitoring these key technical thresholds for confirmation signals as chainlink tests critical resistance areas.