Chainlink is showing signs of a comeback as bullish chart patterns and rising volume hint at a possible move toward $17.50 and above.
LINK has broken a key trendline with strong support at $13.50, and holding above $14.10 could open the door to $15.60 and $17.14.
The daily chart shows a falling wedge and growing momentum that could push Chainlink past $17.50 toward $19.30 or even $26.00.
With powerful technical indications flashing, Chainlink (LINK) may be about to break out of its protracted downward trend. The LINK is currently trading close to $13.51, which is the peak of a symmetrical triangle on the 4-hour chart. On the daily period, however, a more comprehensive study reveals a downward broadening wedge formation. Given these bullish settings coming together, LINK may soon try to rally to $17.50 and higher.
Triangle Pattern Points to Bullish Resolution
Chainlink created a symmetrical triangle on the 4-hour chart. The price fluctuated between convergent trendlines, with the $13.00–$13.50 area serving as support. This pattern frequently develops prior to directional movements during consolidation.
Source: Cryptorphic
Recently, LINK broke above the descending trendline of this triangle. This move, marked by a volume spike, hints at growing bullish momentum. The first key resistance lies at $14.10. If bulls clear this level, further targets lie at $15.60 and $17.14. These areas coincide with earlier price peaks and offer strong short-term upside potential.
Daily Chart Confirms Medium-Term Setup
Besides the short-term triangle, the daily chart highlights a descending broadening wedge—often a reversal pattern. LINK peaked near $27 in December 2024 before entering a long decline. The price consistently respected the wedge's upper boundary, rejecting recovery attempts.
Source: Alex Clay
Currently, LINK trades near the wedge’s lower support around $13.54. This level aligns with previous buyer zones and could act as a base for a rally. Additionally, support levels at $17.50 and $19.50 remain key zones to watch.
Moreover, exponential moving averages confirm the existing bearish trend. The 50-period EMA sits below the 100-period EMA, supporting downside pressure. However, a decisive breakout above $17.50 could shift the medium-term trend in favor of bulls.
Momentum Builds for Recovery
At this moment, LINK is at a crucial technical point. Regaining the $14.10 level is necessary for bulls to make additional gains. Thus, a break above $17.50 may eventually pave the way for $19.30 and possibly $26.00. If current levels are not maintained, LINK can fall within its predetermined range.
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