- LINK repeats bullish wedge pattern; breakout may signal a move toward the $41 long-term target.
- Technicals show breakout from pennant; rising volume supports potential rally continuation.
- Developer activity ranks high; trendline break and RSI at 52 allow room for more upside.
Chainlink’s weekly chart shows a repeating bullish wedge breakout pattern, with each breakout followed by sharp upward moves. Technical analysts have identified a similar structure now forming again. LINK is currently trading at $13.27 and may be setting up for a macro move toward the long-term trendline target of $41.
Bullish Pennant Breakout and Development Activity Fuel Optimism
Crypto Avi, a crypto analyst, noted that Chainlink has broken out of a bullish pennant pattern on the daily chart. The setup formed over several weeks and resembles earlier formations that preceded large upward moves. Crypto Avi stated, “LINK Try to Breakout of Bullish Pennant pattern in the daily Timeframe, Expecting 2x Rally Incoming Days.”
The pattern’s measured move projects LINK price toward the $30–$40 range, which matches historical rally zones. Volume rose during the breakout, validating strong buyer interest. This supports a potential rally continuation if momentum and volume persist.
Santiment reported that Chainlink ranks second in GitHub development activity among crypto projects. This includes code commits and repository updates over the last 30 days. The consistent development reflects increasing network build outs, CCIP and oracle integrations. This growth supports Chainlink’s infrastructure role in DeFi and cross-chain systems.
Resistance Levels, Trendline Break Confirm Bullish Structure
According to an observation by CryptoWZRD on X, LINK has broken above a key descending trendline that blocked advances since early 2024. The trendline was tested repeatedly in March and May.
The confirmed breakout suggests a potential shift in market structure. Resistance now stands at $16.00. If this level is cleared, LINK could approach $19.50, a previous supply zone. The daily RSI remains near 52, allowing room for further upside.
Weekly MACD values show fading bearish momentum, while the CMF is turning flat, indicating slowing distribution. If indicators continue to improve, a move toward $30–$41 remains possible.
