Chainlink & Avalanche Shatter Downtrends: These Altcoins Just Flipped the Script
Market tides turn as two major altcoins smash through resistance walls that held for months.
Chainlink's oracle network surges past critical technical levels while Avalanche's subnet architecture gains institutional traction—both tokens posting double-digit gains as traditional finance scrambles to catch up.
Technical Breakouts Signal Momentum Shift
LINK clears its 200-day moving average with volume spikes suggesting sustained institutional accumulation. AVAX mirrors the move, breaking its descending wedge pattern as validator participation hits new highs.
Institutional Adoption Accelerates
Real-world asset tokenization pipelines flood both networks—because nothing makes legacy finance embrace decentralization faster than the chance to fractionalize everything from real estate to racehorses.
Watch levels: LINK must hold $18.50 support; AVAX faces resistance cluster at $42. Meanwhile, crypto skeptics still think 'blockchain' is just a poorly implemented Excel spreadsheet.
$LINK continues strong uptrend
Source: TradingView
$LINK hasn’t broken its downtrend because it isn’t in one. In fact, the latest uptrend is in full swing since 3 August, and a main uptrend has been in force since 22 June. In this time, the $LINK price climbed as much as 145%. On Wednesday morning this is continuing, with a more than 6% increase so far on the day.
Although the daily Stochastic RSI indicators are now falling, the shorter-term indicators are NEAR the bottom. Momentum could go one way or the other as it stands.
$LINK close to high time frame breakout
Source: TradingView
In the weekly chart it can be observed that $LINK is very close to a high time frame breakout. If this does take place it WOULD be extremely bullish. In fact, the above pattern could be called a cup and handle, which, if it played out, could take the $LINK price to $61.
While the Stochastic RSI indicators are very near the top, the RSI indicator still has plenty of room left and has not broken into overbought territory yet. At the bottom of the chart, the MACD is looking very bullish for a continued upside move.
$AVAX breaks recent downtrend
Source: TradingView
The $AVAX price has just broken above the recent downtrend. While it has formed a lower low than previous small downtrends, this would be a higher low for the main uptrend.
At the bottom of the chart, the Stochastic RSI is angled up sharply, potentially signalling the upside momentum that could take the $AVAX price back to the main descending trendline.
Can $AVAX break a damaging high time frame downtrend
Source: TradingView
The weekly chart for $AVAX looks the opposite of the one for $LINK. This is a crypto that has been beaten down severely, and unlike $LINK, it has failed to react with enough positivity to break a very damaging downtrend.
The price is still only just above the bull market horizontal support, and even though the price did break out of a long downtrend, it has failed to take advantage thus far.
All eyes will be drawn to the MACD in the middle of the chart. Here the downtrend can be seen in perspective. The hope that bulls have now is that this downtrend can be broken to the upside, and with such a long trend stretching back to the beginning of 2022, that the breakout might be explosive.
At the bottom of the chart, the RSI indicator is still a way from getting back to the descending trendline. Again, if this can be broken, things could get a lot more positive for $AVAX.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
