#Chainlink (LINK), a leading decentralized oracle network, is currently forming a bullish technical setup that suggests an imminent breakout. Analysts have identified a descending broadening wedge formation on LINK’s price chart—a pattern historically known to precede strong upward price movements. Based on this setup, bullish targets have been projected at $17.50, $19.30, and $26.00, indicating significant upside potential from current levels.
Market Context: Altseason Approaching?
The third quarter of 2025 has commenced on a positive note, sparking renewed optimism for the long-anticipated "#Altseason "—a phase of the market cycle when altcoins outperform Bitcoin in terms of price appreciation. Multiple technical indicators across various altcoin charts are now flashing bullish signals, strengthening expectations that a broader crypto market rally may be on the horizon.
This optimism is further supported by recent accumulation trends. Institutional investors are increasingly allocating capital to #Ethereum ($ETH ) over #Bitcoin (BTC), signaling a strategic shift in market sentiment. As ETH shows signs of a strong breakout, analysts are growing more confident that a sustained altcoin rally could follow.
Shifting Market Cycles: A Delayed Altseason
Traditionally, the peak of altseason has occurred in Q1 following a Bitcoin halving year. However, the current cycle has deviated from this historical trend. Unlike previous cycles, Bitcoin reached a new all-time high (ATH) prior to the 2024 halving event—a first in crypto market history. This premature $BTC rally led to an extended correction phase in Q1 2025, rather than the expected altseason peak.
According to analysts, this correction phase was necessary to reset market conditions and establish a healthier foundation for future growth. With that phase now behind us, many believe the market is primed for a significant upward expansion.
$LINK Among Top Contenders for Growth
While several newer altcoins—such as FET, SUI, and ONDO—have already set new ATHs during this cycle, many established altcoins are still trading below their previous highs. These include ETH, LINK, ADA, XRP, VET, SHIB, and LTC. Despite this, technical indicators suggest that these legacy tokens may soon follow suit, with LINK emerging as one of the most promising candidates for a near-term breakout.
Technical Outlook for #LINK🔥🔥🔥
At the time of writing, LINK is trading at $13.52 (CoinMarketCap). Technical analysts are closely watching the descending broadening wedge pattern that LINK is currently trading within—a formation typically associated with bullish reversals. If LINK breaks out as expected, the price could rally toward the following target zones:
$17.50 – First resistance level and short-term target
$19.30 – Intermediate resistance zone
$26.00 – Longer-term bullish target, contingent on broader market momentum
The analyst who identified this pattern notes that this setup represents a mid-term opportunity with long-term bullish implications for Chainlink.
