Chainlink Price Breaks Multi-Year Triangle and Targets $35

This breakout follows an extended accumulation period and positions the asset for potential gains toward higher price targets.

Market participants are closely monitoring technical indicators that point toward sustained upward momentum. Analysts suggest that holding above the breakout range could open the door for further growth in the current cycle.

In a recent X post, analyst Crypto Patel noted that LINK has moved out of a symmetrical triangle pattern on the two-week chart. The breakout occurred after holding above the $16–$17 zone, which had acted as a major resistance level for months. LINK price 2-weeks chart outlines possible targets of $35, $50, and even $100 within this market cycle, provided buying interest remains consistent.

Source: X

A long-term support level at $8.95 is highlighted as a crucial safety net for the asset’s structure. The breakout pattern is supported by a steady trend of higher lows, indicating that the market has been building strength over time. The projection also includes a much longer-term target of $230 if macro and market conditions align in the future.

This large-scale technical formation marks a shift in the asset’s market structure. Sustaining price levels above $20 could reinforce bullish sentiment and keep the market on track for further gains over the coming months.

Additionally, BraveNewCoin data shows the price at $20.82, up 8.86% in the past 24 hours. The asset’s market capitalization is about $14.12 billion, placing it 14th among cryptocurrencies by size. Trading volume in the last day reached approximately $1.23 billion, with a circulating supply of 678.09 million tokens, reflecting high liquidity.

Source: BraveNewCoin

The 24-hour chart reveald a consistent rise from the $19.00 range to over $21.50 before a slight pullback. The heaviest trading activity occurred during early market hours, accompanied by a surge in volume. This steady appreciation without sharp declines indicates measured accumulation rather than speculative spikes.

If trading activity remains at current levels, the price could retest the $22–$23 range in the near term. Sustained interest at these levels would strengthen the case for further movement toward the medium-term targets highlighted by technical analysts.

At the time of writing, according to TradingView, Chainlink is trading at $20.81, marking a 4.63% daily gain. Price action is positioned near the upper Bollinger Band at $20.68, with the basis at $17.96 providing dynamic support.

The lower band, at $15.23, remains a key downside reference point. The Relative Strength Index (RSI) stands at 68.75, approaching overbought conditions.

Source: TradingView

The daily chart shows consistent closes above the 20-day moving average, confirming the strength of the current trend. The recent high of $21.47 marks a retest of levels not reached in several weeks. Continued stability above the $19.50 zone could preserve the uptrend, while a reversal below the midline might signal consolidation.

Volume patterns indicate increased participation from buyers, supporting the ongoing move. If price holds above the breakout zone, the asset could remain on track to approach the $35 target outlined in the multi-year projection.