- Chainlink tests $25 resistance in a triangle setup, with a breakout potentially driving price toward $27.85–$30.50.
- Holding above $23.70 strengthens bullish bias, while losing $22.30 could invalidate the breakout scenario.
- Analyst VirtualBacon sees long term targets at $90–$100 if LINK clears its $52 all-time high.
Chainlink has been consolidating near a key resistance zone, where price movement now shows signs of a possible bullish breakout. The asset trades at $23.20, testing the upper boundary of a symmetrical triangle structure.
This formation usually represents consolidation before stronger moves. According to analyst Ali, surpassing the $25 level could accelerate momentum toward the $30 range in the near term.
Support and Resistance
The Fibonacci retracement levels show important price areas influencing Chainlink’s current trend. The 0.236 retracement is at $22.33, forming a deeper support if downside pressure emerges.
Meanwhile, $23.29 at the 0.382 level has acted as short term support during earlier corrections. The 0.5 retracement at $24.09 now functions as a pivot, around which price has been consolidating.
Further up, the 0.618 retracement at $24.93 is the immediate resistance, where the market is currently testing its strength. Beyond that, the 0.786 retracement near $26.18 is critical resistance. If breached, it would support the possibility of extended bullish continuation.
Breakout Predictions to $30
Projection paths show two near term scenarios. One shows a pullback toward $23.70–$24.10 before any rebound attempt. The other points to a direct breakout above $25, potentially leading to the $27.85–$30.50 zone.
Notably, Fibonacci extensions align with these projections, targeting $27.85 at the 1.0 extension and $30.12 at the 1.272 extension. A further push could extend toward $31.39 under strong momentum.
Holding above $23.70 is strengthening the bullish bias. However, slipping under $22.30 may weaken upward pressure and invalidate the scenario. The structure therefore suggests that Chainlink’s next decisive move will depend on whether price holds its key support levels.
Analyst Views on Longer Term Targets
Analyst VirtualBacon has outlined a broader perspective, connecting Chainlink’s price action to its previous cycle highs. He stated that if Chainlink breaks its $52 all-time high, the LINK/BTC ratio could turn into a structural uptrend.
Using Fibonacci retracement levels, even a conservative 0.236 level indicates a possible $100 target. VirtualBacon further emphasized that the $90–$100 range aligns with past support and resistance zones.
This projection provides context for long term targets, though it remains dependent on whether the asset clears its prior peak. Together with near term technicals, these views underline the importance of upcoming price action around the $25 level.
