- Chainlink has formed a symmetrical triangle since 2021 with targets mapped as high as $144.
- LINK maintains $16.4B market cap and $807M daily trading volume, showing strong market liquidity.
- Analysts see bull pennant and MACD golden cross as signals for a potential parabolic breakout.
Chainlink (LINK) is showing technical signs of an upcoming parabolic move as price structures tighten near long-term resistance. The token trades at $24.23, recording a 3.1% decline in the past 24 hours, yet maintains strong liquidity and market activity. Analysts suggest accumulation patterns are preparing LINK for a breakout.
Technical Analysis Signals Strength
The weekly chart of Chainlink shows a symmetrical triangle forming since 2021. Resistance is marked near $31, while support remains around $5. Fibonacci retracement levels highlight $8.3, $10.5, $13.6, and $16.7 as key areas, with the current breakout zone around $25.5.
According to analysis prepared by Ali Charts, higher lows since 2022 confirm long-term ascending support. The latest weekly candle gained over 13%, placing LINK above mid-range resistance and close to the 0.786 Fibonacci level. Future projections map potential targets at $39, $57, $85, $105, and $144, following Fibonacci extension patterns.
Crypto strategist Michaël van de Poppe noted that LINK’s USD pair is flipping crucial levels while its Bitcoin pair signals accumulation. He added that the price structure indicates preparation for stronger rallies once resistance levels break.
Market Metrics and Ecosystem Growth
According to data from Coingecko, Chainlink’s market capitalization stands at $16.40 billion, with a circulating supply of 678 million LINK. The project’s fully diluted valuation is $24.19 billion, and its 24-hour trading volume reached $807.17 million, reflecting strong liquidity across markets.
Lark Davis observed that Chainlink has formed a bull pennant pattern alongside an approaching MACD golden cross. “Last time this setup occurred, LINK pumped by over 50%,” he said, pointing to similarities in the current structure.
Chainlink continues to expand its ecosystem with partnerships and integrations, including cross-chain interoperability via CCIP and collaborations with financial institutions. These developments, combined with technical structures, strengthen the outlook for LINK’s long-term price performance.
