- Chainlink’s steady trendline and wedge breakouts point to a potential $41 target if $27.06 support holds firm.
- LINK’s bullish momentum builds as it defends $10 support, with resistance at $31 signaling a key breakout opportunity.
- Consistent accumulation and clear technical setups position LINK for growth, with $41 as the next significant target.
Chainlink (LINK) is at $14.13, 4.62% higher over the past 24 hours. The coin has maintained the $10 support level as it inches towards a major resistance of $27.06. Having a clear bullish configuration and steady accumulation, the strength of LINK is a sign of a potential breakout to $41.
LINK Maintains Strong Price Structure and Trendline Integrity
CoinMarketCap data shows LINK’s multi-year chart beginning below $0.10 in late 2017 before gradually rallying to $1 by 2019. Momentum accelerated in mid-2020, propelling LINK past $10 and marking its entry into large-cap territory. The 2021 cycle pushed it near $50, establishing a macro high before a drawn-out consolidation phase.
Source: CoinMarketCap
Throughout 2022 and 2023, LINK consolidated between $5 and $9 with low volatility but firm higher lows. In early 2024, the price broke above $10, pushing to $23, and confirming a new bullish cycle. Notably, each rally followed a clean wedge breakout, creating predictable price behavior.
Volume spiked sharply during 2020–2021 but remained muted in recent months, suggesting steady institutional accumulation. However, the consistency in higher lows and the rising diagonal trendline highlight a disciplined long-term bullish trend. Support has shifted permanently from $1 to the $10–$12 zone.
Analysts Identify Bullish Wedge Breakouts Driving Momentum
According to market analysis by Bitcoinsensus, LINK’s price action is repeating a well-known wedge breakout pattern. The first wedge breakout in early 2024 took LINK from $6 to $23 before consolidating again. A second breakout then drove the price to $31, creating a stair-step rise.
<embed> https://x.com/Bitcoinsensus/status/1933257480567468073 <embe/>
A detailed breakdown from the analyst confirms that the ascending trendline has consistently acted as resistance. This diagonal structure ties together the previous peaks at $23 and $31, forming a projected target of $41. Each move has respected this technical map, maintaining bullish rhythm.
The analyst also highlights $27.06 as a key horizontal level now acting as support. This level could serve as a base for the next leg up. Breakouts from wedge formations have historically delivered sharp, fast gains for LINK, backed by strong momentum.
Future Levels to Watch: $27.06 and $41 as Breakout Targets
Looking ahead, LINK must hold above the $27.06 support to maintain a bullish structure and investor confidence. A clean breakout and close above $31 could trigger the next parabolic move toward $41. Historical breakouts followed similar behavior, validating this setup.
The rising trendline continues to guide LINK’s structure, reinforcing the bullish thesis. Volume spikes, long green candles, and sustained breakouts above key levels would confirm bullish continuation. Chainlink remains positioned for growth, with technicals aligning for another possible breakout run.
