Chainlink has broken a major Gann angle that held price down for over a year.
The next resistance level sits near $26.50 with $38.50 as a further upside target.
Holding above $19.50 keeps the bullish setup intact for the coming months.
Chainlink (LINK) is trading at $24.07, down 2.04% in the latest session, while its monthly chart shows a potential move toward $26.50. The structure reveals price breaking through a key Gann resistance zone, opening the path for higher targets in the current bullish cycle.
https://twitter.com/TonyTheBullCMT/status/1955764371264610694 Gann Fan Structure and Price Levels
The chart uses a Gann fan overlay to map potential support and resistance lines. Gann analysis divides price action into geometric angles that can signal trend strength and turning points.
LINK’s price action since early 2023 has gradually climbed from sub-$6 lows, moving upward through multiple Gann resistance levels. Each break above an angled line has been followed by a period of consolidation before attempting the next level.
The $26.50 area, represented by the 2/1 Gann angle, now stands as the next major resistance. Above this, the $38.50 and $52.00 zones are marked as potential long-term targets, aligning with higher Gann angles.
Historical Movement and Resistance Breakouts
In 2021, LINK peaked near $52 before entering a prolonged downtrend, which saw it fall through multiple Gann support lines. This decline lasted until mid-2022 when price stabilized within the $5 to $9 range.
From early 2023, a steady recovery began, with LINK moving past the 1/1 and 3/4 Gann angles. This climb has been punctuated by corrective pullbacks, each finding support at prior breakout lines, maintaining the integrity of the trend structure.
The most recent bullish candle broke decisively above the 1/1 purple line, a level that had capped price for over a year. Sustaining above this zone is critical for continuing the advance toward $26.50.
Forward Outlook and Key Price Zones
If LINK maintains momentum, the path toward $26.50 could unfold over the coming months, with intermittent consolidations. This level coincides not only with the Gann projection but also with horizontal resistance from prior highs in 2025.
Beyond $26.50, the Gann 3/2 angle suggests a potential target of $38.50, with the final major resistance at $52 marking the upper boundary for the current cycle. Each of these levels will likely present selling pressure, requiring significant volume to overcome.
On the downside, failure to hold above $19.50 could return LINK to the mid-$13 range, where the lower Gann support intersects. This would challenge the bullish setup and could extend consolidation before any further upward moves.
With LINK positioned at a key technical inflection point and Gann levels mapping a clear path, could this be the beginning of its next major rally phase toward multi-year highs?
