Chainlink LINK Approaches Critical Symmetrical Triangle Breakout, Analyst Eyes $35-$40 Target

Chainlink LINK News - Chainlink's price action is tightening near the apex of a multi-year symmetrical triangle pattern, with immediate resistance at $23.35. Technical analyst Captain Faibik suggests a confirmed breakout could propel LINK toward a target zone of $35-$40. The pattern indicates prolonged accumulation and mirrors historical setups that preceded major rallies. Momentum indicators show strengthening bullish signals—RSI rebounding from midline support and MACD trending upward—while on-chain data confirms steady accumulation. Trading at $23.35 with over $1 billion market cap, chainlink demonstrates stability ahead of the potential breakout. Volume patterns and technical posture suggest growing institutional interest and strategic positioning before confirmation.