- Chainlink breaks multi-year bullish pattern, signaling potential for major price rally.
- Staking activity surges, reflecting rising investor confidence in Chainlink’s long-term value.
- Key resistance at $30; breakout could push LINK toward $50 in coming months.
Chainlink (LINK) is among the few cryptos that managed to paint their charts green last week. In fact, over the past seven days, LINK registered double digit growth of over 17%. In the last 24 hours, however, the momentum declined as the token’s price only surged by a modest 2%. Nonetheless, this just might be the calm before a strong as analysts predict a massive bull rally ahead for Chainlink in the coming days.
What is Chainlink (LINK) up to?
After the latest surge in price, Chainlink (LINK) was trading at $25.75, bringing its total market capitalization to over $17.46 billion at the time of writing. This significant upward movement has reignited optimism among investors, with market sentiment around the token becoming increasingly bullish. A key indicator of this growing confidence can be seen in the rising trend of LINK staking.
According to data from DeFiLlama, the amount of LINK being staked has shown a consistent increase over the past several days. A “rise in staking” refers to a greater number of users locking up their tokens in staking contracts. This not only indicates faith in the asset’s long-term value but also highlights the growing adoption of staking as a means to earn passive income while contributing to the security and efficiency of blockchain networks. The fact that staking has become more accessible through user-friendly platforms and exchanges has further accelerated this trend.
Adding to the positive momentum, popular crypto analyst Ali Martinez recently shared a notable technical development via X. He pointed out that LINK had broken above a multi-year symmetrical triangle pattern—a bullish technical formation that first appeared in 2021. This breakout is considered a strong signal of potential upward movement.
Martinez emphasized that LINK is now poised for a minor retest of the newly formed support level. If the retest holds, it could pave the way for a significant price rally. The combination of technical indicators and rising investor participation through staking paints a highly promising picture for LINK’s short- to mid-term trajectory.
With fundamentals and market sentiment aligning, many in the crypto community are closely watching LINK for its next major move.
Assessing LINK’s upcoming targets
Since both overall market sentiment and analysts’ predictions pointed toward a potential breakout, we turned to Chainlink’s price chart to explore the token’s possible future price targets. A close analysis of LINK’s weekly chart revealed that the $29–$30 range currently stands as a critical resistance zone. This level has historically acted as a strong barrier, and for LINK to continue its upward trajectory, breaching this range will be key.
If Chainlink successfully breaks above the $30 mark with strong volume and momentum, the path could open toward higher price levels.
The next target range would likely be around $34–$40, a zone that LINK hasn’t visited consistently since early bull runs. Further ahead, if broader market conditions remain favorable—such as continued interest in staking, bullish sentiment across altcoins, and positive macroeconomic cues—LINK could even aim to reclaim the $50 mark in the coming months. This would represent a full resurgence and confirm a long-term bullish trend.
However, despite the long-term optimism, there could be some short-term hurdles. One immediate concern lies in the Relative Strength Index (RSI), which, at the time of writing, was on the verge of entering the overbought zone.
An RSI in this territory typically signals that an asset may be overvalued in the short term, prompting some investors to lock in profits. Such activity can lead to temporary price corrections. Therefore, while the outlook remains positive, LINK’s price could see some volatility during its retest of lower support levels.
